The First Taiwan Corporate Bitcoin Treasury

Taiwan’s luxury watchmaker Top Win International is making a bold pivot into Bitcoin, positioning itself as the “Chinese version of MicroStrategy.”

In a move paying homage to MicroStrategy’s pioneering role, Top Win will rebrand under the new name AsiaStrategy, reflecting its transformation into Taiwan’s first publicly traded company to establish a corporate Bitcoin treasury.

On Friday, the company announced it had successfully raised $10 million to launch its Bitcoin strategy. The round was led by WiseLink, a zipper manufacturer and software firm, with additional private investments from Chad Koehn, CEO of United Capital Management of Kansas, and four other backers.

WiseLink acquired three-year convertible notes issued by Top Win, following a memorandum of understanding between the two companies.

While the details of their collaboration remain undisclosed, the funding underscores growing institutional interest in Bitcoin-focused corporate strategies.

“Top Win intends to use the proceeds primarily to purchase BTC.”

The firm also left open the possibility of investing in other listed Bitcoin treasury companies, though it clarified it has no intention of becoming a securities investment firm.

From Luxury Watches to Bitcoin

Top Win International was historically known for its luxury timepieces. However, in May 2025, the company pivoted into Bitcoin through a partnership with Sora Ventures, the same firm that backed Japan’s Metaplanet in launching its Bitcoin treasury last year.

As part of its transformation, Sora Ventures founder Jason Fang joined the board and was appointed co-CEO alongside Top Win’s existing chief executive.

The company’s initial Bitcoin pivot in May sent its stock price soaring to $12.12 in premarket trading.

Following Friday’s $10M funding announcement, shares once again surged nearly 13% in premarket, reaching $5.82.

While this is still 51% below its May peak, the stock remains up an impressive 52% year-to-date, highlighting investor confidence in Top Win’s Bitcoin-focused future.