Chinese data mining company invests 50 million dollars in Bitcoin

SOS Limited, a technology and data mining company from China, has just announced an investment of 50 million USD in Bitcoin to diversify its assets and capitalize on the strong growth of this cryptocurrency. This decision by the board of directors was made on November 27, 2024, with the assessment that the Bitcoin market is currently experiencing many positive developments, including the launch of Bitcoin ETF funds and an improved legal environment in the United States.

The current Bitcoin price has reached around 93,000 USD, and it is predicted to surpass the 100,000 USD mark before the end of the year. SOS Limited intends to apply various quantitative trading strategies such as investment and arbitrage trading to optimize profits in this volatile market. This investment not only demonstrates SOS's commitment to the digital asset sector but also anticipates that Bitcoin will become a strategic global reserve asset in the near future.