SOS Limited’s Board of Directors authorized an investment of $50 million in the company’s Bitcoin acquisition.
On November 27th, the announcement was published on their website. Bitcoin is currently experiencing its most significant gains, which has captivated the attention of numerous investors worldwide, encouraging them to participate in this bull market.
SOS Limited sees Bitcoin as a global strategic reserve asset
The most recent update from SOS demonstrates the company’s agreement with the optimistic perspective on the crypto industry. This momentum is a direct result of the favorable policy environment in the United States that is designed to support digital assets.
SOS Limited seems to believe that Bitcoin is not only the most valuable digital asset but also has the potential to be designated as an asset for critical global strategic reserves.
The CEO of SOS, Yandai Wang expects this investment to add to competitiveness and profitability in the digital asset sector for the company overall.
“Bitcoin market performance is robust and supported by positive developments such as the launch of several Bitcoin-related ETF options and ongoing improvements in the US regulatory environment for digital assets.”
Wang.
SOS is not the only company tapping into the Bitcoin bull-run, but follows several other firms that have pumped huge sums of money into the digital asset.
SOS and other private establishments flock BTC
The Chinese firm emulates many other companies that have adopted Bitcoin as a reserve asset, not only in Asia but across the global market. Genius Group, a Singapore-based firm reportedly revealed its first $120 million BTC as of November 12. The AI startup further strengthened its BTC holding with another $14 million purchase.
Tokyo- based Metaplanet reportedly started purchasing BTC earlier this year, in April as it pivoted to alternative assets. According to Crypto News, just like MicroStrategy, the entity raised capital through debt and equity sales to finance its stockpile. As of November 19, the firm owned more than 1,421 BTC worth above $104.5 million.
This trend has been prevalent with reports suggesting that Remixpoint, a Japanese firm started allocating capital towards a corporate BTC stash. MicroStrategy reportedly led the trend as the largest and publicly known corporate BTC holder. The company started the aggressive BTC strategy in 2020 and has invested more than $21 billion in purchasing BTC and boasted more than $15 billion in unrealized profits.
For SOS, the company wants to offset market volatility, maximize returns as well as its plans to employ quantitative trading strategies, including investing, trading, and arbitrage strategies. These strategies are expected to earn the company steady returns while optimizing its investment portfolio over time.
SOS and MicroStrategy’s entry into the BTC investments could reflect growing confidence in the bitcoin asset’s long-term potential.
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