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Chinese company plans to invest US$50 million in Bitcoin as a strategic reserve
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THE SOS Ltd., a Chinese company specializing in blockchain and commodity tradingannounced the approval of a plan to acquire US$50 million in Bitcoin.
The company’s board confirmed the decision, highlighting the strategic potential of cryptocurrency as a store of value and financial asset. Even amid recent volatility in the cryptocurrency market, SOS recognized Bitcoin as a unique opportunity.
After reaching almost US$100,000 last week, the price of the cryptocurrency suffered a 9% drop. However, it recovered part of the lost value, today costing around US$96 thousand. The company’s strategy demonstrates confidence in Bitcoin’s long-term performance despite recent fluctuations.
The SOS plan includes the use of quantitative strategies to manage risks associated with volatility. The company intends to implement methods such as direct investmentstrading and arbitration operations.
Bitcoin as a strategy
As stated by Yandai Wang, president and CEO of SOS, the Bitcoin market remains robust thanks to positive developments such as the launch of ETFs based on Bitcoin and the evolution of the regulatory landscape in the United States.
The decision also reflects the company’s alignment with the growing institutional adoption of digital assets and the advancement of regulations in the sector.
SOS operates in several areas, including blockchain, commodity trading and technology-based emergency services. Through its subsidiary, SOS International Trading Co., Ltd., the company expands its global operations and integrates innovations such as artificial intelligence, blockchain and 5G networks into its services.
Recently, a Supreme Court decision chinese recognized the ownership of cryptocurrencieslike Bitcoin, like legal under the category of goods in the country. The measure does not change the prohibitions already established on the use of digital assets such as currencies or financial instruments. However, it represents an advance in the recognition of its property characteristics.
Chinese company plans to invest US$50 million in Bitcoin as a strategic reserve
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Chinese company plans to invest US$50 million in Bitcoin as a strategic reserve
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Chinese company plans to invest US$50 million in Bitcoin as a strategic reserve
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Chinese company plans to invest US$50 million in Bitcoin as a strategic reserve
