Strive Asset Management announced on May 7 that it’s going to transition into a Bitcoin treasury company, and video game retailer GameStop Corporation (GME) finished a convertible debt offering on April 1 that raised $1.5 billion, with some proceeds earmarked for buying Bitcoin. Related: Metaplanet scoops 1,004 Bitcoin in 2nd-biggest buy everCorporate Bitcoin treasuries collectively hold over three million in Bitcoin, worth over $300 billion, according to Bitbo data.
The Jakarta-based Nasdaq-listed company said on May 19 that its board of directors approved creating a Bitcoin (BTC) “treasury reserve” and it was “committing up to 50% of any net profits generated to fund the acquisition of BTC.”DigiAsia said it was also “actively exploring a capital raise of up to US$100 million” to kickstart its Bitcoin holdings and would look to earn yield on its holdings through means like lending and staking.
The company added that it was also assessing whether to offer convertible notes or crypto finance instruments linked to its planned Bitcoin haul. DigiAsia stocks explode on Bitcoin plansShares in DigiAsia Corp (FAAS) closed May 19 trading at a gain of just over 91% at 36 cents after the company’s Bitcoin announcement, according to Google Finance.
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Author / Journalist: Cointelegraph by Stephen Katte
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