David Bailey and key figures from Sora Ventures and BTC Inc. have taken on active board roles at HK Asia Holdings, signaling a decisive shift in management strategy towards Bitcoin-focused initiatives.
Leadership Transition and Board Restructuring
On February 12, 2025, Sora Ventures and its affiliates officially assumed board control of Bitcoin-focused HK Asia Holdings following the filing of director appointments. This transition marks the firm’s move from being a stakeholder to an active manager in the Hong Kong-based publicly listed company.
The newly appointed board of twelve directors includes executive, non-executive, and independent non-executive positions. Key figures joining the board include:
- David Bailey and John Riggins from BTC Inc.
- Jason Fang from Sora Ventures
- Siu Muk Lung (Chairman)
- Chung Chi Fai
- Mary Wong (Executive Directors)
Board Structure and Strategic Oversight
The board structure incorporates four key committees:
- Audit
- Remuneration
- Nomination
- Environmental, Social, and Governance (ESG)
These committees include designated chairmanships and memberships, ensuring a structured approach to governance. The ESG committee also involves participation from the company secretary and human resources officer.
Sora Ventures and BTC Inc.’s subsidiary, UTXO Management, had previously acquired one-third of Japan’s Metaplanet equity, further solidifying their reputation as leading investors in Bitcoin-focused enterprises.
From Passive Investment to Active Management
In an interview with CryptoSlate, Jason Fang emphasized that the new board appointments signify a fundamental shift—transitioning from passive investment to direct operational control. This move ensures that key figures from Sora Ventures and Bitcoin Magazine-affiliated entities will now oversee HK Asia Holdings’ operations.
Fang clarified that previous announcements in Hong Kong had been misinterpreted as simple capital deployment via stake acquisition. However, this latest development confirms a hands-on management approach, stepping beyond investment into direct operational oversight.
A Strengthened Bitcoin Strategy
The updated board composition reflects HK Asia Holdings’ continued commitment to Bitcoin-related ventures, aligning with Sora Ventures’ ongoing initiatives in digital asset management. This strategic move highlights a clear transition from financial backers to core operators, ensuring a more integrated role in shaping the company’s Bitcoin-focused future.
By taking direct control, BTC Inc. and Sora Ventures reaffirm their commitment to advancing Bitcoin adoption through hands-on corporate leadership and strategic development in the digital asset space.
