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Nasdaq-listed Top Win International today announced that it has raised $10 million from a group of investors, including Taiwan-based Wiselink. This marks the first time a publicly-listed Taiwanese firm has invested in a Bitcoin treasury company.
According to an announcement today, Hong Kong-based Top Win International is the latest firm to raise funds for its BTC treasury strategy. The firm – traditionally a luxury watch brand – is steadily pivoting toward the digital assets industry.
Wiselink led the funding round by purchasing a three-year convertible note worth $2 million. The remaining $8 million was contributed by other investors, including American asset manager United Capital Management of Kansas.
The proceeds from the fundraising will primarily be used to purchase BTC. Top Win may also use the funds to invest in other publicly-listed companies with Bitcoin treasury strategies, subject to applicable regulatory requirements.
The firm clarified that it has no intention of operating as an investment company. Notably, Top Win was listed on Nasdaq in April 2025 and subsequently changed its ticker symbol from TOPW to SORA following a partnership with SORA Ventures in May 2025.
Meanwhile, Top Win shares fell sharply at market open, trading down more than 15% on the day. However, the stock remains up 12.41% over the past five days.
In a similar development, NYSE-listed Sequans Communications recently announced an ambitious plan to accumulate 100,000 BTC by the end of 2030. The firm stated that it holds strong conviction in Bitcoin as a foundational asset for long-term value creation.
Sequans initiated its Bitcoin strategy on July 8, with a $384 million strategic investment in convertible debt and equity. The firm also added 1,264 BTC to its balance sheet in the last month.
As of today, Sequans ranks 21st among publicly traded Bitcoin holders globally. Michael Saylor’s Strategy, MARA Holdings, and Twenty One Capital hold the top three positions, respectively.
Corporate adoption of Bitcoin was once considered a novel and risky strategy. However, the trend has accelerated significantly following US President Donald Trump’s victory in the 2024 election.
Earlier this week, Norway’s sovereign wealth fund – Norges Bank Investment Management – revealed that it had significantly increased its BTC exposure, bringing its stake to a value of $844 million.
