SOS Ltd., a Chinese company based in Qingdao, has announced plans to invest $50 million in Bitcoin, joining a growing list of companies integrating cryptocurrencies into their financial strategies. This decision reflects the firm’s belief in Bitcoin as a “store of value” and a strategic asset, according to Yandai Wang, the company’s Chairman and CEO.
SOS Ltd., founded in 2001, is a multifaceted technology firm specializing in blockchain, crypto operations, commodity trading, and emergency rescue services. The company has a global presence and a market capitalization of approximately $13 million. In addition to its investment in Bitcoin, SOS has also expanded into crypto mining.
The company has deployed over 8,483 super-computing servers in Fort Stockton, Texas, and 810 in Wisconsin, achieving a combined hash rate of approximately 1.35 EH/s across its North American operations. The firm plans to employ quantitative trading strategies to manage market volatility and enhance returns.
SOS’s announcement comes as Bitcoin is trading at near-record highs, with analysts predicting it could surpass $100,000 by the end of the year. The company is looking to follow in the footsteps of U.S.-based MicroStrategy, which has integrated Bitcoin into its financial strategy since 2020. Tesla is another notable participant, having initially purchased $1.5 billion worth of Bitcoin in 2021 but later selling a portion to maximize cash positions.
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