PANews reported on November 27 that SOS Ltd., a Chinese company listed on the New York Stock Exchange, announced that its board of directors has approved a plan to invest $50 million to purchase Bitcoin (BTC) in order to strengthen its blockchain industry layout. SOS said that the plan not only reflects its long-term confidence in Bitcoin as a strategic reserve asset, but also hopes to optimize its investment portfolio and enhance the company's competitiveness in the field of digital assets. SOS will adopt a diversified quantitative trading strategy, including investment, trading and arbitrage, to reduce market volatility risks and achieve stable returns.
SOS's market value is approximately US$9.16 million. After today's opening, it may have been affected by this news and soared by 47.19%.
