Chinese data mining firm SOS Limited’s board of directors has approved a $50 million investment in Bitcoin. The decision was shared on November 27 through the company’s official press release.

SOS is planning to use several trading strategies for this investment. This will include quantitative trading, direct investment, and arbitrage strategies.

SOS Stock Surges 100% Following its Bitcoin Purchase

This announcement comes as Bitcoin has started to recover largely from its earlier liquidation. BTC fell below $91,000 yesterday, its lowest in a week. However, the bullish cycle regained momentum as the largest cryptocurrency surged back to $96,000 today. 

Following this news, SOS Limited’s share prices jumped nearly 100% on Wednesday, November 27. The cryptocurrency’s recent surge is driving increased participation from investors globally. SOS Limited’s Bitcoin purchase aligns with the growing enthusiasm around digital assets.

The company views Bitcoin as a key digital asset with strategic importance on a global scale. SOS Limited supports the notion that Bitcoin could play a pivotal role in global reserve strategies.

“We believe this investment plan will further enhance the Company’s overall competitiveness and profitability in the digital asset investment sector,” sai

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Author: Mohammad Shahid