Top Win Secures $10M Funding to Supercharge Bitcoin Treasury Play—Wall Street Left Scratching Heads

Another crypto firm just outmaneuvered traditional finance—with a $10 million war chest to double down on Bitcoin treasury strategies. Here’s why it matters.

The Bitcoin treasury arms race heats up

While banks still debate 'digital asset exposure,' Top Win’s funding round proves institutional capital is voting with its wallet. The $10 million injection signals growing confidence in Bitcoin as a corporate reserve asset—despite the usual suspects crying 'volatility.'

Follow the smart money

This isn’t your 2017-era crypto gamble. That $10 million check represents cold, calculated institutional interest in Bitcoin’s role as treasury collateral—a concept that would give your average CFO night sweats just three years ago.

The cynical take

Meanwhile, traditional treasuries cling to sub-5% yields while inflation eats their lunch. But sure, keep pretending T-bills are 'safe.'

Taiwan’s First Listed Firm Invests in Bitcoin Treasury

The funding round was led by Taiwan-based Wiselink, which purchased a three-year convertible note worth $2 million. The remaining $8 million came from a group of global investors, including United Capital Management of Kansas, an American asset manager.

This deal marks a milestone: it is the first time a publicly-listed Taiwanese company has invested in a bitcoin treasury firm, highlighting the growing global confidence in BTC as a strategic corporate asset.

Funds Directed Toward BTC Purchases

According to Top Win’s reveal, the majority of the $10 million proceeds will be used to buy Bitcoin directly. Additionally, the firm has indicated it may allocate some funds to invest in other public companies pursuing similar Bitcoin treasury strategies, depending on regulatory considerations.

Top Win stressed that it does not intend to operate as an investment company. Instead, the MOVE is designed to strengthen its balance sheet with BTC while supporting long-term growth in the digital asset economy.

Nasdaq Listing and Strategic Pivot

Top Win International has undergone a notable transformation in recent months. The company went public on Nasdaq in April 2025 under the ticker TOPW. By May, it had rebranded its listing to SORA following a partnership with SORA Ventures, signaling its ambition to expand into blockchain and digital asset markets.

The decision to build a Bitcoin treasury is a continuation of this pivot, aligning the company with a growing number of publicly-listed firms integrating BTC into their corporate strategy.

Stock Market Reaction

Despite the reveal, Top Win shares fell more than 15% at market open, reflecting short-term investor caution. However, the stock has remained up 12.41% over the past five days, showing resilience amid volatility.

Such swings are common when companies make bold moves into Bitcoin, especially as markets weigh both the risks and long-term potential of treasury diversification into digital assets.

Sequans Communications Joins the Bitcoin Race

Top Win’s move comes shortly after Sequans Communications, a NYSE-listed firm, revealed its ambitious plan to accumulate 100,000 BTC by 2030. Sequans has already invested $384 million in convertible debt and equity since July 8, while adding 1,264 BTC to its balance sheet in the past month.

As of mid-August, Sequans ranks 21st among global public Bitcoin holders. By comparison, industry leaders such as Michael Saylor’s Strategy, MARA Holdings, and Twenty One Capital maintain the top three positions.

Global Momentum for Bitcoin Adoption

Corporate adoption of Bitcoin has accelerated since the 2024 U.S. election victory of President Donald Trump, whose administration has been seen as friendlier toward digital assets.

Earlier this week, Norway’s sovereign wealth fund (Norges Bank Investment Management) disclosed that it had expanded its BTC exposure to a staggering $844 million. Similarly, wealth management firm Choreo invested $6.5 million in Bitcoin ETFs, further strengthening the narrative of mainstream institutional adoption.

Why Companies Are Turning to Bitcoin

For companies like Top Win International, Bitcoin offers a long-term hedge against inflation and currency debasement, as well as a way to diversify treasury reserves away from traditional assets.

By positioning itself early in the digital asset space, Top Win joins a growing group of forward-looking corporations betting that Bitcoin will serve as a foundational asset for future financial systems.

Market Snapshot

As of press time, Bitcoin trades at $117,199, down 0.9% in the last 24 hours. While short-term volatility remains a challenge, the steady rise of corporate treasuries adopting BTC suggests strong conviction in the cryptocurrency’s long-term value.

Outlook: A New Phase for Bitcoin Treasuries

The entrance of Top Win International — a Nasdaq-listed company with strong roots in traditional luxury markets — highlights the evolution of Bitcoin’s role in corporate finance.

What was once considered a speculative move is now becoming a mainstream strategy. With Taiwanese investors like Wiselink joining U.S. and European institutions in backing BTC treasuries, the global momentum for Bitcoin adoption shows no signs of slowing.