DigiAsia Corp, an Indonesian fintech firm, saw its shares nearly double after announcing plans to raise $100 million to initiate Bitcoin purchases. The Jakarta-based company stated it would commit up to 50% of its net profits to fund these acquisitions. As part of its strategies, DigiAsia is exploring capital raising, potentially through convertible notes or crypto finance instruments linked to Bitcoin. Following the announcement on May 19, DigiAsia's stock surged over 91%, reaching 36 cents, although it fell 22% post-market to 28 cents. Year-to-date, the stock has decreased nearly 53%, with a previous peak of just under $12 in March 2024. In its financial update earlier, DigiAsia reported a 36% year-on-year revenue growth, projecting an increase to $125 million by 2025. The trend of corporate Bitcoin holdings is growing, influenced by firms like MicroStrategy, which holds the largest Bitcoin reserves among public companies. Currently, Bitcoin's market cap is around $2 trillion, with BTC priced at $105,642, experiencing a 2% increase in the last day.

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