Jason Fang hints at a new layout: the next stop for Bitcoin reserve companies may be Taiwan.
Top Win's co-CEO Jason Fang posted on X (formerly Twitter) late at night on July 21, writing 'Next: Taiwan', leading to speculation that Top Win might expand its transformation strategy to Taiwan by acquiring Taiwanese listed companies to create a new Bitcoin reserve platform.
This short post, although lacking details, is widely interpreted by the market as a preview for the Taiwanese market due to Top Win's recent intensive layout in Asia.
Unique investment strategy: transforming from a watch dealer to a Bitcoin vault player.
Top Win was originally a company engaged in high-end watch distribution, but in May 2025, it officially announced its transformation into a strategic investment platform focused on acquiring listed companies and creating a Bitcoin reserve mechanism. It does not hold Bitcoin directly but invests in publicly listed companies around the world, transforming these companies into reserve companies centered on Bitcoin as core assets, thereby increasing its own market value and influence.
Buying Top Win (SORA) is equivalent to indirectly investing in a basket of global Bitcoin reserve companies.
Has invested in listed companies in Japan, South Korea, Hong Kong, and Thailand.
Top Win has completed or is promoting several overseas investment projects, including:
Japan's Metaplanet (3350.JP): Top Win announced at the end of May that it would acquire 200,000 shares at a price of 832.48 yen per share; the company is known as the 'Japanese version of MicroStrategy'.
Hong Kong's Hong Kong Asia Holdings (1723.HK): signed a renewal contract with Allied Top Investments Limited, obtaining an option to acquire 2 million shares at 4 Hong Kong dollars per share.
South Korea's SGA Co., Ltd. (049470.KQ): plans to ally with KCGI and Metaplanet's CEO to become SGA's largest shareholder.
Thailand's DV8 Public Limited: participating in a public acquisition through a subsidiary, intending to acquire up to 11.58% equity, expected to complete the offer period before August 20.
This series of cross-border investments makes Top Win one of the few innovative companies conducting Bitcoin reserves through the acquisition of listed companies in multiple countries.
Why choose Taiwan? It has both potential market and regional strategic value.
Although no specific acquisition targets have emerged, Taiwan, as part of the Asian capital market, with its highly open tech community and potential blockchain infrastructure, undoubtedly represents a strategically valuable location for Top Win.
If Top Win successfully replicates its model in Taiwan as it has in Japan or Thailand, it could create Taiwan's first Bitcoin reserve-type listed company and potentially stimulate a new wave of imagination and participation from local investors in Bitcoin and digital assets.
Chain News sought details from Top Win co-CEO Jason Fang regarding the post, but did not receive a positive response before publication.
This article is reprinted with permission from: (Chain News)
Original title: (Next stop Taiwan? Top Win's CEO may intend to bring the 'Bitcoin reserve strategy' to the Taiwan stock market)
Original author: Elponcho
'Could the Bitcoin reserve strategy be brought to Taiwan's stock market? Top Win's CEO hints: Next stop Taiwan' was first published on 'Crypto City'
