Shares of luxury watchmaker Top Win have skyrocketed by more than 60% in premarket trading as the company announced a bold shift towards a Bitcoin treasury strategy, even rebranding itself as AsiaStrategy. This pivot, unveiled on May 16, sees AsiaStrategy partnering with Sora Ventures to delve into the Bitcoin (BTC) realm, echoing a trend that has captivated corporate strategists worldwide. The stock market’s reaction was swift, catapulting Top Win’s share price from $7.50 on May 15 to $12.12, marking a notable surge driven by this strategic announcement.
A New Chapter with Sora Ventures
AsiaStrategy’s decision to partner with Sora Ventures signifies a transformative step that marries traditional luxury with modern digital assets. Jason Fang, the brain behind Sora Ventures, is set to join AsiaStrategy’s board as co-CEO alongside Tony Ngai. Fang’s journey—starting from Fenbushi Capital to establishing Sora Ventures in 2018—has been characterized by pioneering investments in DeFi, GameFi, and more recently, DeSci and the Bitcoin ecosystem. “Our aim is to integrate Bitcoin into our treasury as a hedge and an opportunity,” Fang commented, reflecting on the broader implications of this strategic alignment.
This move is not AsiaStrategy’s first foray into the Bitcoin domain. Sora Ventures previously collaborated with Metaplanet in 2024 to inaugurate Japan’s first corporate Bitcoin treasury, setting a precedent that AsiaStrategy now follows. The watchmaker’s decision to maintain its luxury business alongside its new Bitcoin-focused strategy demonstrates a dual approach that balances tradition with innovation—an approach that has sparked considerable market interest.
Following the Bitcoin Treasury Trail
AsiaStrategy’s Bitcoin embrace mirrors a broader corporate trend, reminiscent of Strategy’s (formerly MicroStrategy) game-changing decision back in 2020. By adopting a Bitcoin accumulation strategy, Strategy set a trail that many are now eager to follow. Presently, Strategy holds a staggering 568,840 BTC, valued at nearly $59 billion, according to BitcoinTreasuries.NET. This influential shift has not only reshaped Strategy’s trajectory but also inspired other companies to explore similar paths.
Metaplanet, another key player, adopted this strategy last year and now boasts 6,796 BTC, worth over $704 million. Their recent move to raise additional funds through a $21.25 million bond issue further underscores the growing appetite for Bitcoin as a corporate asset. The signs are clear: companies are increasingly viewing Bitcoin as both a strategic reserve and a potential growth driver. This aligns with Metaplanet’s recent expansion efforts, as detailed in Metaplanet Registers U.S. Treasury Arm to Grow Its Bitcoin Reserve Strategy.
The Road Ahead
So, what lies ahead for AsiaStrategy in this new phase? While the stock market’s initial response is overwhelmingly positive, questions linger about the sustainability of this trend. “It’s a fascinating time for corporates and Bitcoin,” remarked a market analyst. “But the volatility of crypto markets raises questions about whether this enthusiasm can sustain itself long-term.”
For AsiaStrategy, the journey is just beginning. The integration of Bitcoin into its treasury could provide a significant hedge against traditional market fluctuations, yet it also exposes the company to the inherent volatility of cryptocurrency markets. As the company navigates this new landscape, the eyes of both the luxury and crypto worlds will be watching closely.
With its luxury watchmaking arm still intact, AsiaStrategy is poised to redefine its market positioning—balancing the allure of luxury with the cutting-edge promise of digital assets. As 2025 unfolds, this bold move could serve as a bellwether for other traditional industries contemplating a similar leap into the digital future. The stakes are high, but so too are the potential rewards. For more on Metaplanet’s strategic moves, see Metaplanet to open US arm, plans to raise $250M for Bitcoin strategy.
Source
This article is based on: Bitcoin treasury pivot lifts luxury watchmaker’s stock more than 60%
Further Reading
Deepen your understanding with these related articles:
- Metaplanet Issues $25M Bonds to Buy More Bitcoin
- Strategy Raising Another $21B to Buy Bitcoin, Posts Large Q1 Loss on BTC Price Decline
- Strategy’s $84B Bitcoin Expansion Plan Backed by Wall Street Analysts
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
