Top Win International Limited, formerly known for its premium watch business, officially announces its entry into the digital asset field. Not only has the company rebranded itself as "AsiaStrategy", but it is also preparing to collaborate with the renowned Web3 fund Sora Ventures to promote a BTC-centered asset strategy, targeting the rapidly emerging crypto and Web3 market in Asia.
Asia, home to half of the global population, is becoming a hotspot for blockchain technology and Web3 revolution. TopWin sees this industry wave and believes that Asia's technological penetration and policy development provide an extremely promising digital asset landscape. If companies can seize the opportunity to layout in advance, they can gain a competitive edge in this high-growth market.
One of TopWin's key strategies is to collaborate with Sora Ventures. The fund has focused on BTC-related investments since 2018 and recently worked with Metaplanet to create Japan's first "MicroStrategy-type" enterprise, and is working to replicate this model in the Hong Kong market.
TopWin hopes that through its partnership with Sora, it can not only strengthen BTC Treasury management but also leverage its investment experience to explore Web3 ecosystem investment opportunities. Future directions include DeFi, GameFi, Non-Fungible Token, and even decentralized science (DeSci) fields.
Sora Ventures founder Jason Fang will join TopWin's board of directors and co-lead with current CEO Tony Ngai. Jason Fang previously worked at the renowned blockchain venture capital firm Fenbushi Capital and has successfully navigated multiple bull and bear market cycles, making him a seasoned Web3 player.
This personnel appointment not only brings strategic vision to TopWin but also signals the company's accelerated transformation, combining traditional enterprise's stable structure with Web3's innovative genes.
TopWin will officially rename to "AsiaStrategy" after obtaining necessary shareholder approval and Cayman Islands registration change. This move aims to reflect its new corporate positioning and demonstrate its firm commitment to digital and blockchain economic transformation.
Top Win International Limited (NASDAQ: TOPW), established in 2001 and headquartered in Hong Kong, primarily trades and retails international brand premium watches. From 2025, the company will officially enter the Web3 domain, venturing into digital asset investment and BTC Treasury management.
Sora Ventures is a leading blockchain venture capital firm in the Asia-Pacific region, having invested in over 100 Web3 companies. Recently, it has been actively promoting BTC asset management strategies for listed Asian enterprises, aiming to reshape the regional capital market landscape.
Risk Warning: Cryptocurrency investment carries high risks, with potentially significant price volatility. You may lose all your principal. Please carefully assess the risks.
Japanese MicroStrategy Metaplanet released its latest financial report, with Q1 2025 revenue reaching 877 million yen, 88% of which came from BTC options trading. As Japan's largest BTC reserve company and benefiting from Japan's tax system and advantages for retail and institutional investors, its mNAV has long been at a premium, with its stock price rising 58% this year, significantly outperforming BTC's 11%.Toggle
Metaplanet Accelerates BTC Purchases, Aims to Reach 10,000 BTC by Year-End
Originally operating in the lodging business, Metaplanet announced in April last year that it would follow Microstrategy (now renamed Strategy) and shift towards a BTC financial strategy, actively purchasing BTC. To date, it has acquired 6,796 BTC, ranking 11th among global listed companies.
Metaplanet plans to reach its goal of 10,000 BTC by the end of this year and aims to purchase 21,000 BTC by 2026.
Options Trading Creates BTC Earnings
First-quarter revenue reached 877 million yen, with 88% coming from BTC options trading. Operating profit was 593 million yen, growing 11% from the previous quarter.
Metaplanet uses flexible options trading to earn income beyond BTC spot appreciation, including selling BTC put options and roll-up trades. By collecting options premiums, Metaplanet refers to this as "target buying" because even if forced to execute, it still involves buying BTC spot, emphasizing it as another method of acquiring BTC.
In the first quarter, unrealized losses of 7.4 billion yen were recorded due to BTC price fluctuations, but by May 12, this had turned into 13.5 billion yen in unrealized gains.
Japan's Largest BTC Reserve Company, mNAV Long-Term at Premium
Metaplanet is the Asian listed company with the most BTC, actively expanding its BTC holdings through capital markets. This strategy has garnered high attention in the Japanese market and has been included in multiple global and local ETFs.
Its shareholder count has grown 500% in one year, now reaching 64,000 shareholders. Since first purchasing BTC in April 2024, its stock price has risen 15-fold.
Benefiting from Japan's tax system and advantages for retail and institutional investors, its mNAV (current stock price to BTC value ratio) remains high long-term. Famous short seller Jim Chanos recently stated in a CNBC interview that companies like Strategy using fundraising to buy BTC and then raising company valuation by claiming "we own BTC" is absurd, suggesting investors can Long BTC while Short selling the company stock for arbitrage.
(Famous short seller Jim Chanos: Long BTC + Short Microstrategy for Arbitrage)
Metaplanet Establishes US Subsidiary, MTPLF Trading Volume Surges
Metaplanet announced earlier this month the establishment of a fully-owned subsidiary "Metaplanet Treasury Corp." in Miami, Florida, with initial capital of $250 million (approximately 1 billion yen). This move is seen as a key step in advancing its "BTC Treasury strategy" to enhance global financial operations.
Its OTC-listed stock MTPLF has also seen increased trading volume due to rising exposure.
Risk Warning
Cryptocurrency investment carries high risk, with potentially significant price volatility. You may lose all your principal. Please carefully assess the risks.
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