Taiwan’s first publicly traded corporate Bitcoin treasury, Top Win International, has raised $10 million to begin its BTC purchases.
On Friday, the company confirmed the funding came from a group of investors led by zipper producer and software company WiseLink. Private investments also came from Chad Koehn, founder and CEO of United Capital Management of Kansas, along with four other backers.
WiseLink bought three-year convertible notes issued by Top Win. This followed a memorandum of understanding between the two companies for an undisclosed collaboration. Top Win stated it would use the funds primarily to buy Bitcoin. The company may also invest in listed Bitcoin treasury firms but clarified it has no plans to operate as an investment company or engage primarily in securities trading.
Shift From Watches to Bitcoin
Top Win, originally a Taiwan-based luxury watchmaker, adopted its Bitcoin treasury strategy in mid-May after partnering with Sora Ventures. Sora previously collaborated with Metaplanet to launch Japan’s first corporate Bitcoin treasury in 2024.
Following the shift, Top Win announced plans to change its name to AsiaStrategy, echoing the rebrand of MicroStrategy, the first corporate Bitcoin treasury globally. Sora Ventures founder Jason Fang joined the board as co-CEO, alongside the existing CEO. After the May announcement, the company’s stock surged to $12.12 in premarket trading.
The latest $10 million raise pushed Top Win’s stock up nearly 13% in premarket trading Friday, reaching $5.82. Despite being 51% below its May high of $12.12, the stock remains up about 52% year-to-date.
