The first public to be exchanged by the Taiwan Corporate Bitcoin Treasury, Top Win International, raised $ 10 million to kick off BTC accumulation efforts.
The luxury watchmaker-turned-bitcoin treasury announced Friday raised $ 10 million from a group of investors led by the zipper manufacturer and Wiselink software company. The increase was accompanied by private investments from Chad Koehn, founder and CEO of United Capital Management of Kansas, along with four other investors.
Wiselink bought the three -year -old notes released by the Top Win. The investment complied with a memorandum of understanding between two companies describing an unsented cooperation.
“Topwin aims to use the proceeds especially to buy BTC.”
The announcement added that Top Win can also invest in the listed bitcoin (Btc) Treasury companies next to Bitcoin purchase. However, the company said it was “no plans to work as an investment company or to engage especially in the investment business, reaquence, or trade with security.”
Related: Taiwan lawmakers call for Bitcoin Reserve at the National Conference
Evolution of a watchmaker
Top Win International is a Taiwan -based luxury that has decided Pivot in a Treasury approach of Bitcoin in mid -May. The change in strategy followed a partnership with Sora Ventures, the same company that cooperated with Metaplanet in 2024 to create Japan’s first corporate Bitcoin Treasury.
The Top Win also announced that it will change its name in Asiastrategy, in a nod to the first Bitcoin treasury company worldwide, the approach, formerly known as microstrategy. However, the latest announcement referred to the old name of the company, Top Win International.
Sora Ventures founder and partner Jason Fang joined the company board and took the co-Co-Co-COO position next to the existing CEO of the company. The Top Win International stock gets an immediate notice, which jumps at $ 12.12 with premarket trading on May’s announcement day.
Related: Taiwan enforces AML registration mandate for crypto providers
Stock reaction to BTC strategy
The news of the capital increase seemed to have received well by market participants on Friday. At the time of writing, Top Win International’s Stock saw an increase in pre-market prices of almost 13%, trading at $ 5.82.
The price was a 51% collapse from $ 12.12 reported in premarket trading on the day the company announced its pivot in Bitcoin accumulation. However, the stock reached almost 52% year-to-date.
Magazine: Taiwan Treason pays Tether, Resurgence Resurgence Resurgence: Asia Express
