Indonesia's DigiAsia Plans to Raise $100M to Buy Bitcoin

Indonesian fintech company DigiAsia Corp announced bold plans to raise $100 million to buy Bitcoin (BTC). 

The Jakarta-based firm, which trades under the ticker FAAS, revealed on May 19 that its board of directors has approved the creation of a Bitcoin treasury reserve. In addition, DigiAsia said it would commit up to 50% of future net profits toward buying BTC. This puts the company in the same category as other public firms embracing Bitcoin as a long-term treasury asset.

In its most recent update from April, DigiAsia reported 2024 revenues of $101 million, a 36% increase year-over-year. For 2025, the firm is projecting another 24% rise to $125 million, with $12 million in projected earnings before interest and taxes (EBIT).

DigiAsia Takes a Big Step Toward Crypto Integration

In a statement to investors, DigiAsia said it is currently exploring multiple capital market options to raise the initial $100 million for its Bitcoin strategy. These include equity-linked offerings, convertible notes, and structured crypto finance instruments.

"We believe Bitcoin represents a compelling long-term investment and a foundational layer for modern treasury diversification," said Prashant Gokarn, Co-CEO of DigiAsia. "This move positions DigiAsia at the forefront of institutional crypto adoption and reflects our broader commitment to fintech and blockchain innovation."

The firm plans to partner with regulated institutions to explore opportunities in institutional BTC lending and staking.

DigiAsia is following the lead of other publicly traded companies that have embraced Bitcoin as a store of value and inflation hedge. Most notably, MicroStrategy, led by Michael Saylor, holds over 576,000 BTC—the largest reserve among public firms. Its holdings are currently worth nearly $61 billion.

Similarly, Strive Asset Management recently announced its transition into a Bitcoin treasury company, and GameStop raised $1.5 billion through a convertible debt sale, part of which is set aside for BTC purchases.

Why This Move Matters for Indonesia

DigiAsia’s pivot comes amid a massive boom in Indonesia’s crypto market. According to government data, the value of cryptocurrency trading in the country surged 335.9% in 2024, reaching Rp 650.61 trillion (around $40.2 billion).

The number of registered crypto users also grew rapidly. As of November 2024, there were 22.1 million verified users, and regulators predict this number could soon surpass 25 million. This reflects rising retail and institutional interest in crypto assets.

Tirta Karma Senjaya, head of Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti), attributed the rise to stronger public confidence in crypto as an asset class.

“These figures demonstrate growing public confidence in crypto asset trading in Indonesia,” Tirta said duringA a press conference.

The Bigger Picture

Bitcoin has evolved from a speculative investment to a strategic asset held by corporations, governments, and financial institutions. What began as an experiment by a few bold firms is now turning into a broader shift in corporate treasury policy.

Public companies are no longer just watching from the sidelines. With inflation concerns, currency debasement, and rising geopolitical tensions, many CFOs are now considering Bitcoin as a viable part of their asset allocation. 

The fact that a fintech firm based in Jakarta is taking such a step also signals Asia’s increasing role in the global crypto landscape. While the U.S. has long dominated institutional crypto discussions, emerging markets like Indonesia are catching up fast, driven by mobile-first platforms and strong retail engagement.