Top Win International, a Taiwanese company, just raised $10 million to buy Bitcoin – making them the first in Taiwan to create a Bitcoin treasury. This move, announced on August 15th, follows a global trend of publicly traded companies adding crypto to their assets.
WiseLink’s Key Role
Taiwanese fintech firm, WiseLink, was a major player in the fundraising. They invested through convertible notes and signed an agreement with Top Win to collaborate on a “bitcoin + cross-border finance” project. Other private investors, including Chad Koehn from United Capital Management, also participated. The money will mostly go towards buying Bitcoin, with some kept for operating expenses.
Market Reaction and Stock Performance
The news was well-received by the market. Top Win’s stock saw a pre-market jump of 12.5%, reaching $5.80. While this is down from a previous high, it still represents a nearly 51% increase year-to-date, showing investor confidence despite price fluctuations.
Following the Bitcoin Treasury Trend
Top Win is joining a growing number of companies using Bitcoin as a core asset. Over 167 public companies now hold Bitcoin, totaling over 976,000 BTC. Top Win plans to hold Bitcoin as a long-term investment and even hinted at investing in other Bitcoin treasury firms.
Government Support Adds Momentum
Recent comments from US Treasury Secretary Scott Bessent further fueled this trend. He stated that government-seized Bitcoin will form the basis of a Strategic Bitcoin Reserve, a move seen as strong institutional support for Bitcoin in the US.
Top Win’s Big Move
For Top Win, this Bitcoin strategy marks a significant shift from its previous focus. The Hong Kong-based, Nasdaq-listed company (ticker SORA) first announced its foray into digital assets in May.