Nasdaq-listed Top Win changes ticker to SORA, names Jason Fang board chairman

Bitcoin-focused firm Top Win International has officially changed its Nasdaq ticker symbol from TOPW to SORA to reflect its revamp to a Bitcoin Treasury company, according to a May 27 regulatory filing.

The firm has also appointed Sora Ventures co-founder Jason Fang as chairman of the board of directors. Fang brings a wealth of experience to the role, particularly from his leadership at Metaplanet, which pioneered corporate Bitcoin adoption in Asia.

His appointment suggests a sharper strategic focus for Top Win as it builds a stronger operational foundation. Fang is expected to lead the company in its next chapter, which is focused on Bitcoin accumulation and infrastructure development across Asia.

Top Win’s share price surged over 30% to $13.83 in early Monday trading. The rally continues a steep upward trajectory observed through May, with the stock now up over 200% since early April, according to chart data.

AsiaStrategy

Based in Hong Kong, Top Win originally operated as a luxury watch distributor, but its recent merger with Sora Ventures has accelerated its pivot toward becoming a full-scale Bitcoin Treasury firm.

As part of this shift, the firm plans to rebrand to AsiaStrategy, pending regulatory approval. The name reflects its broader ambition to replicate the playbook of MicroStrategy using Bitcoin as a core treasury asset.

In a recent social media post, Fang confirmed the company’s updated vision, stating that SORA intends to build the “MicroStrategy of Asia.” The firm plans to amass Bitcoin reserves while supporting its affiliated businesses across the region.

This strategy aligns with a broader trend of institutional interest in Bitcoin as a reserve asset. As of May 2025, the top 85 corporate holders collectively own over 804,000 BTC, according to Hodl15Capital.

Michael Saylor’s Strategy (formerly MicroStrategy) leads the pack with over 580,000 BTC, while Metaplanet tops Asian firms with 7,800 BTC.

With SORA’s new focus and Fang’s leadership, the firm is positioning itself to ride the next wave of Bitcoin adoption in Asia.

According to Fang, Bitcoin treasury firms like SORA will play a leading role in driving the asset to new all-time highs.

Disclaimer: Sora Ventures is an investor in CryptoSlate.