Key Notes
- WiseLink led a $10M raise for Top Win with a $2M convertible debt investment.
- Top Win will buy Bitcoin and rebrand to AsiaStrategy after merging with Sora Ventures.
- WiseLink chose debt for protection and the option to convert to shares later.
A Taiwan-listed firm has taken an unusual step into the world of Bitcoin reserves. WiseLink has become the main backer in a $10 million funding effort for Top Win International, a Hong Kong luxury watch seller now moving into digital assets.
This marks the first known case of a public company in Taiwan putting money behind a business whose strategy centers on holding Bitcoin. WiseLink contributed $2 million through convertible debt, which can be turned into shares in the future. The rest came from U.S. investor Chad Koehn and four unnamed private backers.
Top Win, which trades on Nasdaq under the ticker SORA, is shifting its focus. With support from Sora Ventures, a cryptocurrency investment group based in Asia, the company is undergoing a rebrand to “AsiaStrategy.” Sora Ventures itself will merge into Top Win as part of the change.
The fresh capital will be used mainly to buy Bitcoin, but Top Win may also target other public companies with significant Bitcoin holdings. It disclosed that it will not operate as a financial investment firm or make securities trading its main line of business.
WiseLink’s chief executive, Tsai Kun Huang, noted that the plan is to include Bitcoin holdings directly into the company’s international finance operations. The aim is to improve long-term asset security while using the reserves to support new business models. Huang points to loose monetary policy worldwide, increasing geopolitical risk, and the search for assets that are decentralized, scarce, and resistant to inflation as reasons for acting now.
Choosing convertible debt instead of buying shares outright, Huang says, offers flexibility. It lets WiseLink start as a lender, earning steady returns and protecting its initial capital, but still allows a switch to ownership if market conditions and Top Win’s performance improve. This way, the company locks in its partnership today without being tied to equity before it’s ready.
Top Win joins the league of Asian companies, including Metaplanet, that have changed their core business structure to include Bitcoin Treasury. Recently, Metaplanet disclosed that it realized about $8.4 million in revenue and saw a 35% increase in its gross profit.
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