Luxury watchmaker Top Win experienced a significant surge of over 60% in premarket trading following the company’s decision to implement a Bitcoin accumulation strategy and rebrand itself as AsiaStrategy. According to an announcement on May 16, AsiaStrategy has partnered with Sora Ventures to adopt a Bitcoin treasury strategy, similar to Sora’s previous collaboration with Metaplanet in 2024. The stock market reacted promptly to this news, with Top Win’s stock price skyrocketing from $7.50 to $12.12 in premarket trading. Despite the strategic shift towards Bitcoin, AsiaStrategy will continue its luxury watchmaking business alongside the new cryptocurrency strategy. The move comes on the heels of a Bahrain-based catering company’s adoption of a Bitcoin treasury strategy in collaboration with 10X Capital, mirroring the path taken by renowned corporate Bitcoin holder Strategy (formerly MicroStrategy). Jason Fang, the founder of Sora Ventures, will join AsiaStrategy’s board, serving as co-CEO alongside Tony Ngai. Fang’s background includes founding Sora Ventures in 2018, with a focus on investments in DeFi, GameFi, SocialFi, NFTs, and more recently, decentralized science and the Bitcoin ecosystem. The trend of companies accumulating Bitcoin gained momentum when Strategy made the shift in 2020, with BitcoinTreasuries.NET data indicating they now hold a substantial amount of BTC. Other companies like Metaplanet have followed suit, raising additional funds to expand their Bitcoin treasury. This move by Top Win reflects a larger trend in the market, as more companies embrace Bitcoin accumulation strategies to diversify their portfolios and capitalize on the cryptocurrency’s potential.