Chinese Company SOS Buys $50 Million Bitcoin, Stock Jumps 100%

BE[IN]CRYPTO11-28

SOS Limited's board authorized a $50 million investment in Bitcoin, reflecting confidence in the cryptocurrency's potential. The company sees Bitcoin as a key asset with potential for global reserve ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2486803999?lang=en_US&edition=fundamental","thumbnail":"https://beincrypto.com/wp-content/uploads/2024/11/bic_predictions_bitcoin-850x478.png","is_english":true,"pubTime":"2024-11-28 02:15","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2486803999","market":"us","top_or_hot":-1,"title":"Chinese Company SOS Buys $50 Million Bitcoin, Stock Jumps 100%","media":"BE[IN]CRYPTO","content":"<div>\n<p>SOS Limited's board authorized a $50 million investment in Bitcoin, reflecting confidence in the cryptocurrency's potential.\nThe company sees Bitcoin as a key asset with potential for global reserve ...</p>\n\n<a href=\"https://beincrypto.com/chinese-company-bitcoin-purchase-stock-surges/\">Source Link</a>\n\n</div>\n","source":"beincrypto_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Chinese Company SOS Buys $50 Million Bitcoin, Stock Jumps 100%</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChinese Company SOS Buys $50 Million Bitcoin, Stock Jumps 100%\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-28 02:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://beincrypto.com/chinese-company-bitcoin-purchase-stock-surges/><strong>BE[IN]CRYPTO</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SOS Limited's board authorized a $50 million investment in Bitcoin, reflecting confidence in the cryptocurrency's potential.\nThe company sees Bitcoin as a key asset with potential for global reserve ...</p>\n\n<a href=\"https://beincrypto.com/chinese-company-bitcoin-purchase-stock-surges/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4123","symbol_name":"调查和咨询服务","start_time":0,"source_url":"https://beincrypto.com/chinese-company-bitcoin-purchase-stock-surges/","article_id":"2486803999","we_media_id":null,"thumbnails":["https://beincrypto.com/wp-content/uploads/2024/11/bic_predictions_bitcoin-850x478.png"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2486803999","pubTimestamp":1732731303,"sourceInfo":{"source_id":"beincrypto_highlight","name":"BE[IN]CRYPTO"},"weMediaInfo":null,"summary":"SOS Limited's board authorized a $50 million investment in Bitcoin, reflecting confidence in the cryptocurrency's potential.The company sees Bitcoin as a key asset with potential for global reserve designation.MicroStrategy and Marathon Digital also announced new rounds of Bitcoin purchases in November.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 shar","collect":0,"end_time":0,"defaultTopTitle":"beincrypto.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4123":"调查和咨询服务","BK4595":"比特币概念","BK4516":"特朗普概念","BK4594":"比特币ETF概念","BK4596":"哈里斯概念","BK4023":"应用软件","BK4600":"加密货币概念","BK4601":"加密货币现货ETF","SOS":"SOS Limited","BK4585":"ETF&股票定投概念","BK4547":"WSB热门概念","MSTR":"MicroStrategy","BK4588":"碎股"},"translate_title":"中国公司SOS 5000万美元收购比特币股价大涨100%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SOS":1,"MSTR":0.7},"content_text":"SOS Limited's board authorized a $50 million investment in Bitcoin, reflecting confidence in the cryptocurrency's potential.\nThe company sees Bitcoin as a key asset with potential for global reserve designation.\nMicroStrategy and Marathon Digital also announced new rounds of Bitcoin purchases in November. \n\nChinese 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.\nSOS is planning to use several trading strategies for this investment. This will include quantitative trading, direct investment, and arbitrage strategies.\nSOS Stock Surges 100% Following its Bitcoin Purchase\nThis 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. \nBitcoin Price Performance on Wednesday. Source: BeInCrypto\nFollowing 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.\nSOS Limited Stock Price on Wednesday, November 27. Source: TradingView\nThe 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.\n\n“We believe this investment plan will further enhance the Company’s overall competitiveness and profitability in the digital asset investment sector,” said Yandai Wang, Chairman and CEO of SOS. \n\nPublic Companies Are Extremely Bullish on BTC\nMeanwhile, Bitcoin acquisitions have been surging across publicly traded companies in recent months. Earlier this week, MicroStrategy completed another round of Bitcoin purchases worth $5.4 billion.  This was the third consecutive BTC purchase from Michael Saylor’s firm in November alone. \nSo far, the firm has acquired over $16 billion worth of BTC this year, extending its lead as the largest Bitcoin holder across the industry. \nBitcoin’s recent highs have also impacted Microstrategy’s stock performance. MSTR surged by nearly 450% YTD, becoming one of the top 100 public companies in the US. \nAlso, crypto miner Marathon Digital recently raised $1 billion through a convertible senior notes offering. As BeInCrypto reported earlier, the lion’s share of this fund will be used to buy more Bitcoin. \nDespite Bitcoin reaching $99,000 in the current cycle, these major firms seem extremely bullish on BTC’s long-term price. Earlier this week, Pantera Capital projected that the cryptocurrency will reach $740,000 by 2028. \nThe firm previously projected Bitcoin to be around $117,000 by August 2025, and we’re not far from this mark. \n\n\n\n\nTop crypto projects in the US | November 2024\n\n\n\nCoinrule\nExplore\n                      \n\n\n\n\n\nCoinbase\nExplore\n                      \n\n\n\n\n\nUphold\nExplore\n                      \n\n\n\n\n\n3Commas\nExplore\n                      \n\n\n\n\n\nChain GPT\nExplore\n                      \n\n\n\n\n\n\n\n\nTop crypto projects in the US | November 2024\n\n\nCoinrule\n\n\n\n\n\n\n\n\nCoinbase\n\n\n\n\n\n\n\n\nUphold\n\n\n\n\n\n\n\n\n3Commas\n\n\n\n\n\n\n\n\nChain GPT","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"2","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2486803999"}