Chinese SOS Ltd to invest $50M in Bitcoin, backed by U.S. regulatory support
$50 million in Bitcoin.
SOS Ltd, a diversified Chinese company, announced its board of directors' decision to invest up to $50 million in Bitcoin.
According to the press release, SOS's investment strategy is closely tied to the positive momentum in the cryptocurrency market, including a more favorable U.S. regulatory environment for digital assets and increasing institutional support for Bitcoin.
To maximize returns and mitigate market volatility, the company plans to leverage various quantitative trading strategies, including investment, trading, and arbitrage approaches.
Confidence amid Bitcoin’s near-peak price
Despite making the decision while Bitcoin hovers near its historical peak, SOS Chairman and CEO Yandai Wang expressed confidence in the move. He emphasized that Bitcoin’s market efficiency remains strong, bolstered by positive developments such as the launch of multiple Bitcoin-related ETFs and ongoing improvements in the U.S. regulatory landscape for digital assets.
SOS operates across sectors including information technology, cryptocurrency operations, blockchain, and commodity trading. Its business is heavily tied to the U.S. market, with investors such as State Street Corp, XTX Topco Ltd, Two Sigma Investments, Morgan Stanley, BlackRock, and other American firms.
As we wrote, Yao Qian, Director of the Department of Science and Technology Supervision at the China Securities Regulatory Commission (CSRC) and a key figure in the implementation of the digital yuan, has been removed from his position and expelled from the Communist Party of China after a prolonged investigation.
