Taiwan's Wiselink Technology pioneers Bitcoin treasury strategy, investing in Top Win International's convertible note to acquire BTC, driving stock surge and market capitalization.

Executive Summary

Wiselink Technology (8932.TWO), a publicly listed Taiwanese company, has initiated a Bitcoin (BTC) treasury strategy by investing in Top Win International Limited (SORA), a Nasdaq-listed company. This move, executed through a convertible note, aims to integrate Bitcoin into Wiselink's financial operations and leverage its potential as a hedge against currency devaluation. The announcement resulted in a notable increase in Wiselink's stock price and market capitalization.

The Event in Detail

On August 8, 2025, Wiselink partnered with SORA to implement a Bitcoin reserve strategy. The company invested $2 million in SORA via a three-year convertible note, contributing to a $10 million funding round. This investment will enable SORA to acquire Bitcoin. The use of convertible notes allows Wiselink to act as a creditor with principal protection while retaining the option to convert to equity later. According to @JasonSoraVC, Wiselink added $68.74 million in market capitalization on roughly $60 million in trading volume following the announcement.

Market Implications

Wiselink's strategic move aligns with a growing trend of corporate Bitcoin adoption, following precedents set by companies like MicroStrategy. This adoption may encourage other publicly listed companies in Taiwan and Asia to consider Bitcoin as part of their corporate treasury strategy, potentially driving demand and influencing regulatory approaches. The company's integration of Bitcoin with its FinShell Pay platform aims to facilitate payment and cross-border settlement services, highlighting Bitcoin's potential utility in financial operations.

Expert Commentary

Jason Fang, founder and managing partner at Sora Ventures, stated, > “The future is public companies buying public companies that have exposure to digital assets!” Tsai Kun Huang, Wiselink's CEO, views the current environment as a >“golden window” for implementing a Bitcoin capital strategy.

Broader Context

The adoption of Bitcoin treasury strategies by public companies is increasing, with over 1 million BTC held by such entities. MicroStrategy holds the most Bitcoin at 636,505 BTC. Companies like Metaplanet and Semler Scientific are also aiming to accumulate substantial Bitcoin holdings, signaling a long-term commitment to Bitcoin as a strategic asset. Taiwan's regulatory environment treats Bitcoin as a digital “virtual commodity”. Cryptocurrency platform operators are subject to anti-money laundering (AML) regulations under the Taiwan AML Act.