Chinese company SOS Ltd., listed on the New York Stock Exchange, announced that its board has approved a plan to invest $50 million to purchase Bitcoin, aiming to strengthen its blockchain industry layout.
In the announcement, the company forecasts that the price of Bitcoin has reached around $93,000 each and is expected to break the $100,000 mark within the year. SOS is a multi-domain company engaged in Bitcoin, cryptocurrency business, and commodity trading.
The company announced that the board has approved a plan to invest $50 million for the purchase of Bitcoin, emphasizing its commitment to promoting its blockchain industry and reinforcing the company's long-term belief in Bitcoin as a store of value and strategic asset.
The announcement stated: 'This purchase plan is being carried out against the backdrop of Bitcoin reaching an all-time high and continuing to attract global investors' attention. According to the latest market data, the price of Bitcoin has reached around $93,000 each and is expected to break the $100,000 mark within the year.'
SOS's investment plan is closely aligned with the positive dynamics of the current cryptocurrency market, including the US policy environment’s more favorable commitment towards digital assets and major financial institutions' preference for Bitcoin. To maximize investment returns and minimize market volatility risks, SOS plans to adopt various quantitative trading strategies, including investment, trading, and arbitrage strategies. These strategies will help the company achieve robust returns in the current market environment while further optimizing its portfolio over time.
'This move highlights SOS's effort to expand investments in digital assets. SOS believes that Bitcoin is not only an important component of the digital asset ecosystem but also has the potential to become one of the global strategic reserve assets. SOS is committed to bringing long-term value to shareholders and investors through continuous investment and technological innovation while actively contributing to the sustainable development of the global digital economy.'
SOS CEO and Chairman Yandai Wang stated, 'Bitcoin's current market performance is strong and supported by positive news from multiple sources, such as the launch of some Bitcoin-related ETF options and the ongoing improvement of the regulatory environment for digital assets by the US government.'
We believe that this investment plan will further enhance the company's overall competitiveness and profitability in the digital asset investment field. CryptoTimes reported that SOS's statement was released after Bitcoin’s largest listed whale, MicroStrategy, recently purchased 55,500 Bitcoins for $5.4 billion, indicating a growing trend among institutional investors. Increasing amounts of capital are being allocated to Bitcoin, driving momentum for its development and solidifying its status as a viable investment tool for large entities.
Chinese listed companies such as SOS and MicroStrategy have strategically entered the field of Bitcoin investment, reflecting an increasing confidence in the long-term potential of this asset. With the expansion of institutional participation, the market stability and adoption rate of Bitcoin are expected to improve, signaling an optimistic outlook for the entire cryptocurrency industry. By taking this initiative, SOS shows that it is ready to adapt to the changing market dynamics and leverage the potential of Bitcoin as a cornerstone of its investment strategy.
