News 
Coin Information 
About us 
China’s SOS Limited has revealed plans to invest $50 million in Bitcoin, citing the cryptocurrency’s long-term potential. The announcement propelled SOS’s NYSE shares up 79%, reflecting a wave of institutional confidence and favorable crypto policies under Trump.
SOS Limited Highlights Bitcoin’s Strategic Role
SOS Limited, a publicly traded Chinese company, has stated its belief in Bitcoin's potential as a strategic asset and store of value. The beneficial policy shift in the US is driving the coin's attraction, even though it noted that Bitcoin is now trading at an average price of $93,000 per coin.
It also lines up with predictions that Bitcoin's price could shortly top $100,000, according to the business. The $50 million investment is an additional step toward its goal of providing long-term value to shareholders, as previously announced.
A few days prior to this allocation, MicroStrategy paid $5.4 billion for 55,500 Bitcoin. The asset is gaining general momentum as more institutional investors start to contribute funds to it.
SOS Stock Price Surges After Bitcoin Allocation
The New York Stock Exchange share price of SOS soared after the announcement that the company had allocated $50 million to Bitcoin. Adding more than $5 to the stock price, which is now $12.48, SOS had a 79.5% surge in 24 hours. This most recent Bitcoin pivot and share rise might assist in reducing the losses that have been collected so far this year.
This month, a lot of large corporations have begun to accept Bitcoin or have increased their Bitcoin use. Prior to the SOS update, Semler Scientific additionally set aside funds to purchase 297 BTC from November 18th to 22nd, 2024. Its total Bitcoin holdings have increased to 1,570 BTC, or $117.8 million, after this purchase.
Trump’s Victory Sparks Bitcoin Optimism
Global Bitcoin buyers come from a wide variety of industries. Nonetheless, the majority are taking a page out of Michael Saylor's playbook, which is defined by steady accumulation over time.
After Donald Trump won the US presidential election, the demand for Bitcoin investments grew. Many believe he will use the victory to establish a national Bitcoin reserve. He has already suggested creating a crypto advisory committee to aid in the implementation of the reserve measures, as previously reported by Coingape.
Moreover, prominent figures in the sector anticipate a significant improvement in crypto legislation, which will set the stage for the expansion of the majority of digital currencies.
Comment 0