DigiAsia, a thinly traded Singapore-based fintech listed on Nasdaq, said its board approved raising up to $100 M to seed a Bitcoin treasury reserve and route up to 50 % of future profits into BTC. The mere signal ignited a 91 % pop to $0.36 during regular trade.
The frenzy echoes the “MicroStrategy effect”: small-cap firms pivoting to Bitcoin can see dramatic re-ratings when crypto markets are hot. Yet after-hours profit-taking sliced 22 % off the close, underscoring volatility when execution risk is high and fundamentals (revenue $101 M, EBIT $12 M) remain modest.
Traders should track financing terms (convertible notes vs. equity), custody arrangements, and whether regulators scrutinise a treasury strategy that could expose shareholders to crypto price swings. Until a definitive purchase is filed, the move is speculative at best.
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