The $200M publicly listed company, DV8, is set to revolutionize Southeast Asia’s financial landscape with its bold foray into crypto. The Thailand-based company has secured a massive $7.4 million in funding to establish the region’s first Bitcoin treasury.
DV8 To Establish Southeast Asia’s First Bitcoin Treasury
In the latest development within Thailand’s robust crypto space, the $200 million DV8 Public Company Limited has announced its decision to emerge as Southeast Asia’s first Bitcoin treasury firm. The company has revealed the completion of its initial funding round, raising 241 million baht ($7.4 million).
Significantly, the Thailand platform’s Bitcoin move has resulted in a massive 30% increase in the DV8 stock price. At press time, the stock price is marked at 7.85 baht, with about 50% surge in five days. Over the past six months, the share has seen a staggering growth of 1,570% hike.
Public Companies Embrace Bitcoin
Countries and companies worldwide are increasingly accumulating Bitcoin as a treasury asset. As CoinGape reported, Bitcoin treasury companies accumulated 4,702 BTC in a record-breaking week, with plans to invest an additional $6.3 billion. It is noteworthy that DV8’s strategic move is primarily inspired by the aggressive accumulation of Bitcoin by Michael Saylor’s Strategy and Japan’s Metaplanet.
With a total holding of 601550 BTC, Strategy is the largest public holder of Bitcoin. At the same time, Metaplanet, currently holding 16,352 BTC, is known as Asia’s Strategy. Other companies like MARA, XXI, Riot Platforms, and Galaxy Digital are also among the top Bitcoin treasury companies.
Urging companies in Asia to adopt Bitcoin, Metaplanet CEO Simon Gerovich stated,
Public companies in Asia are uniquely positioned to legitimize Bitcoin by putting it on the balance sheet within regulated, mainstream markets,” Fang told Decrypt. “Their role is to normalize adoption, not through speculation, but through disciplined treasury strategy.”
It is noteworthy that, with this funding, DV8 is poised to accelerate its Crypto-Native Value Creation Model, mirroring the successful strategy employed by MicroStrategy.
Chairman Chatchaval Jiaravanon Leads DV8’s Bitcoin Ambitions
Interestingly, the Thai company’s Bitcoin ambition is led by the newly appointed Chairman Chatchaval Jiaravanon. Jiaravanon has been a prominent business leader in Thailand and a former acquirer of Fortune magazine. With this restructuring, DV8 is charting a path to become a pioneer in Southeast Asia’s crypto treasury sector. The company has taken this BTC initiative when the Bitcoin price hovers around the new all-time high of $122k.
Under his leadership, DV8 is shifting its focus to Bitcoin treasury management, DeFi investments, and digital innovation. The platform is also planning to introduce a crypto-integrated digital banking system to drive financial inclusion across Southeast Asia.
Nynu V Jamal
Nynu V Jamal is a Senior Journalist at CoinGape. She boasts more than 3 years of experience in content writing, with expertise in crypto and blockchain. She has contributed to platforms like CoinEdition and CryptoTale, demonstrating her proficiency in navigating the dynamic crypto landscape.
Beyond her journalistic pursuits, Nynu is a literary enthusiast, having served as an Assistant Professor of English Language and Literature. She is a Master’s degree holder in English Literature and a UGC NET qualifier. Her academic background has enabled her to publish research papers on literature, while also nurturing her creative side as a published poet.
Her creative side extends to music, crafts, and art, which she actively explores. Her unique blend of analytical and creative skills allows her to craft engaging stories that captivate audiences. Stay updated with Nynu on LinkedIn
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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