Chinese SOS Ltd to Purchase $50M in Bitcoin for Reserve

SOS Limited, a China-based company, has announced plans to purchase up to $50 million worth of Bitcoin (BTC) as part of its investment strategy. The decision, approved by the company’s board of directors, reflects SOS CEO Yandai Wang’s long-term belief in Bitcoin as a strategic asset and a store of value on a global scale. This move is part of SOS’s broader plan to expand its digital asset portfolio, aiming to capitalize on the growth of cryptocurrencies and strengthen its financial position.

In a statement issued on November 27, Wang highlighted that the robust performance of Bitcoin, supported by positive developments like the launch of Bitcoin-related exchange-traded funds (ETFs) and ongoing regulatory improvements in the U.S., further solidifies the company’s decision to hold BTC as a reserve asset. SOS’s purchase will add to the growing trend of companies around the world integrating Bitcoin into their portfolios, particularly as an asset that could drive future profits.

SOS Ltd.’s decision to build a Bitcoin reserve places it among a growing list of global firms that are adopting BTC as a core asset. For instance, Genius Group, a Singapore-based company, revealed its first BTC purchase of $120 million in early November, followed by an additional $14 million buy. Similarly, Metaplanet, a Tokyo-based company, began buying Bitcoin earlier this year, raising capital through debt and equity sales to fund its stockpile, which had surpassed 1,421 BTC (valued at over $104.5 million) by mid-November. Japanese company Remixpoint has also been reported to allocate funds toward a corporate Bitcoin stash.

SOS’s Bitcoin reserve strategy aligns with a wider movement, particularly in Asia, where private companies are increasingly looking to Bitcoin as a store of value. The trend also mirrors the actions of Michael Saylor’s MicroStrategy, which has led the charge in corporate Bitcoin acquisition since 2020, spending over $21 billion on BTC and amassing more than $15 billion in unrealized profits.

This growing trend has even extended to nation-states. There are reports that the U.S. government, under the leadership of President-elect Donald Trump, might begin exploring the idea of a national Bitcoin reserve. Proposals from figures such as Senator Cynthia Lummis could potentially push this policy forward by 2025.

In summary, SOS Ltd.’s decision to purchase $50 million worth of Bitcoin further demonstrates the increasing institutional adoption of Bitcoin as a reserve asset, in line with a global trend that includes both private companies and nations considering the cryptocurrency as a long-term store of value.