Top Win Raises $10M for Bitcoin Treasury, Stock Jumps 12.5%
Nasdaq-listed Top Win International (SORA) secured a $10 million funding round to establish a Bitcoin treasury, becoming Taiwan’s first public company with this strategy.
The round was led by fintech firm WiseLink, which acquired three-year convertible notes and signed an MOU on a "bitcoin + cross-border finance" initiative. Private investor Chad Koehn also participated.
Top Win will allocate all proceeds to BTC purchases, may invest in other public Bitcoin treasury companies, and retain working capital. After the announcement, the stock jumped 12.5% pre-market to $5.80, reversing a prior drop from $12.12.
Globally, 167 public firms now hold over 976,132 BTC, led by MicroStrategy (628,946 BTC), followed by Metaplanet and Trump Media & Technology Group. The move underlines growing institutional demand for Bitcoin, likely tightening supply and buoyed by U.S. Treasury remarks on a Strategic Bitcoin Reserve from seized assets.
Bullish
Top Win’s $10M Bitcoin treasury initiative signals rising institutional demand and could tighten Bitcoin supply. In the short term, the company’s significant BTC purchases are likely to add buying pressure, contributing to price appreciation. Over the long term, this move by a Nasdaq-listed firm and endorsements like WiseLink’s convertible notes deal reinforce market confidence in Bitcoin as a strategic reserve asset, supporting sustained upward momentum.