Top Win Steps Into Bitcoin Treasury History

Luxury watch retailer Top Win International Limited has officially entered the cryptocurrency record books, becoming the first Bitcoin treasury company in Taiwan.

The Hong Kong-based company, listed on Nasdaq under the ticker SORA, announced on August 15 that it raised $10 million to fund its Bitcoin strategy. The move aligns Top Win with a growing number of global public companies using BTC as a long-term treasury asset.

Strategic Investors Back the Move

The raise included investment from WiseLink, a publicly traded Taiwan-based fintech firm, which acquired three-year convertible notes in Top Win.

Both companies have signed a memorandum of understanding to collaborate on WiseLink’s “Bitcoin + Cross-Border Finance” initiative, potentially opening doors for broader crypto adoption in international finance.

Other notable investors in the round include Chad Koehn, founder of United Capital Management of Kansas, along with private backers supporting the firm’s crypto expansion.

A Bold Treasury Play

Top Win first revealed its intention to venture into digital assets and Web3 in May. With this $10 million funding, the company plans to deploy the entire raise into purchasing Bitcoin, reinforcing its commitment to the asset’s long-term value proposition.

The company also indicated it may invest in other publicly listed Bitcoin treasury companies, with a portion of funds set aside as working capital. However, it clarified that it does not intend to operate solely as an investment company.

Bitcoin Treasury Movement Gains Momentum

Top Win joins a fast-growing group of companies choosing Bitcoin as part of their balance sheet strategy.

According to market data, there are currently 167 public companies holding Bitcoin as a treasury asset, collectively owning more than 976,132 BTC.

Leading the pack is Michael Saylor’s MicroStrategy, with 628,946 BTC, followed by Japan’s Metaplanet (18,113 BTC) and Trump Media & Technology Group Corp. (15,000 BTC).

The movement recently received a boost from U.S. Treasury Secretary Scott Bessent, who stated that government-seized BTC will form the foundation of the Strategic Bitcoin Reserve announced by President Donald Trump in March.

Why It Matters

Top Win’s entry into the BTC treasury space is significant for two reasons:

• First in Taiwan: This marks the first time a Taiwanese public company has officially integrated Bitcoin into its treasury strategy.
• Luxury Sector Adoption: The move highlights how companies outside the tech and finance sectors—such as luxury goods—are increasingly recognizing Bitcoin’s value as a hedge and strategic asset.

Looking Ahead

With the raise complete, Top Win’s next steps will be closely watched by both the luxury retail industry and the crypto investment community. If its Bitcoin holdings appreciate significantly, it could inspire other Asian public companies to follow suit.