SOS Limited to invest $50 million in Bitcoin, bullish on future of cryptocurrency market

From Investing.com
November 27, 2024 09:02:13 AM:

SOS Ltd. plans to invest $50 million in Bitcoin, citing its belief in Bitcoin as a store of value and strategic asset. Bitcoin’s price has surged to around $93,000 per coin, with projections of hitting $100,000 by year-end. SOS will use quantitative trading strategies to maximize returns and manage market volatility.

The investment strategy aligns with the positive momentum in the cryptocurrency market, driven by a more favorable U.S. policy environment and growing institutional support for Bitcoin. SOS aims to expand its digital asset investments, viewing Bitcoin as a key global strategic reserve asset. The company plans to deliver long-term value through continued investment and technological innovation.

Chairman and CEO Yandai Wang stated that the robust performance of the Bitcoin market is supported by positive developments like the launch of Bitcoin-related ETF options and improvements in the U.S. regulatory environment. SOS believes the investment plan will enhance the company’s competitiveness and profitability in the digital asset investment sector.

Read more at Investing.com: SOS Limited to Buy Up to $50M of Bitcoin By Investing.com