According to AsiaStrategy, Sora Ventures CEO Jason Fang is now the company’s largest shareholder following a change in ownership of major shareholder Pride River Limited.
Pride River’s cap table will change based on the agreement signed on Nov. 7, according to a company statement dated Nov. 10. From 70% owned by Ngai Kwan and 30% held by Sora Vision Limited, the holding will move from 49% owned by Ngai Kwan, 30% held by Sora Vision Limited and 21% held by Sora Ventures II Master Fund.
Sora Vision Limited and Sora Ventures II Master Fund are affiliated with Fang, so he holds the largest effective interest in AsiaStrategy.
The company said the update does not result in any changes to its management, operations or strategy. AsiaStrategy added that it has purchased Bitcoin gift cards to reward VIP watch customers as it explores the link between its luxury watch business and its Bitcoin efforts.
| Ownership of Pride River Limited | in front | After (waiting for completion) |
|---|---|---|
| Mr. I’m King | 70% | 49% |
| Soravision Co., Ltd. | 30% | 30% |
| Sora Ventures II Master Fund | — | twenty one% |
AsiaStrategy, which trades on the Nasdaq under the ticker SORA, made a strategic shift in 2025 from a traditional watch sales business to a publicly traded Bitcoin treasury and Asian institutional investors.
The transition followed a merger involving former publicly traded companies Top Win and Sora Ventures, with the ticker change to SORA and Fang’s appointment as chairman of the board, part of a shift to a Bitcoin-centric corporate strategy.
These steps were spelled out when Top Win announced plans to rebrand to AsiaStrategy and when the company confirmed a ticker change and leadership update through spring 2025.
The company then built a cross-border execution stack connecting the US and Asian market rails, appointing Anchorage Digital as its custodian and payments partner. Revealed an initial 30BTC on the balance sheet and plans to expand the treasury over time.
AsiaStrategy also outlined its ambitions to build a large regional Bitcoin position as part of an Asian version of the corporate finance theory popularized by its US peers.
Operationally, the company linked consumer activity to its financial model by enabling Bitcoin payments for luxury watch sales, thereby aligning retail flows with long-term accumulation goals.
This capability follows a $10 million conversion investment from Taiwan-based WiseLink in August 2025, providing further capital flexibility during the pivot. The company has since continued to cite its cross-border agency strategy as its core mission, while retaining its traditional watch business as a channel through which customer rewards and payments can be integrated with Bitcoin efforts.
AsiaStrategy has also been cited in regional companies’ efforts to expand Bitcoin treasury adoption. In May 2025, the company outlined strategic investments in Asia’s Bitcoin sector names, including exposure to Metaplanet and Moon Inc., positioning itself as an Asia-focused public entity for treasuries and corporations to participate in the asset class.
The company’s network intersects with consortium activities pursuing market entry in Southeast Asia, including a Thailand-related move involving related parties of Sora Ventures and Metaplanet entities.
The shareholding update focuses on maintaining effective control over the companies affiliated with Fang without changing the stated plan. For publicly traded vehicles that utilize U.S.-qualified custodians for settlement and custody, governance adjustments can impact the pace of capital deployment, risk settings, and deal flows in markets where regulations and access to banks vary by site.
AsiaStrategy has repeatedly emphasized the value of combining U.S. infrastructure with Asian distribution, and its watch business provides a consumer-facing entry point that can be integrated with corporate financial operations through managed sourcing and compensation structures. The announcement that Bitcoin gift cards will be used for VIP customers is an example of a bridge between retailers and the Treasury Department.
Market participants who track the Bitcoin treasury of publicly traded companies will be watching for subsequent filings reflecting any changes after the Pride River transaction is completed. AsiaStrategy previously revealed expansion plans with 30BTC as the starting point, with Anchorage Digital acting as the payment and custody provider.
Additional capital vehicles, including convertibles and cross-border syndicates, are part of the strategy outlined this year, along with direct investments in regional Bitcoin-related companies. If execution based on that strategy is accompanied by centralized governance, it could impact the speed at which companies add Bitcoin or deploy into equity positions associated with their assets.
AsiaStrategy said the change in shareholding is pending pending the conclusion of the agreement, which was signed on November 7. The company reiterated that there are no changes to its management team and strategic direction, and that it has begun offering Bitcoin gift card rewards to VIP Watch customers.
Disclaimer: Sora Ventures is an investor in igcurrencynews.
(Tag translation) Bitcoin
