NEW
YORK, Nov. 27, 2024 /PRNewswire/ -- SOS Ltd., a
multifaceted company that engages in the
blockchain, cryptocurrency operations and
commodity trading, today announced the Board of Directors approved
its plan to invest $50 million to
purchase Bitcoin (BTC). This initiative underscores
SOS's commitment to advancing its blockchain business and
solidifies the Company's long-term belief in Bitcoin's
role as a store of value and a strategic asset.
The purchase plan comes as Bitcoin reaches historic
highs and continues to capture global investors' interest.
According to the latest market data, Bitcoin's price
has soared to around $93,000 per
coin, with projections suggesting it may surpass the $100,000 milestone by year-end. SOS's investment
strategy aligns closely with the positive momentum in the
cryptocurrency market, including a more favorable U.S.
policy environment toward digital assets and growing institutional
support for Bitcoin.
To maximize returns and mitigate market volatility, SOS plans to
employ a variety of quantitative trading strategies, including
investing, trading and arbitrage strategies.
These strategies are designed to achieve steady returns in the
market environment while optimizing the Company's investment
portfolio over time.
This move highlights SOS Ltd. efforts to expand digital asset
investments. SOS believes Bitcoin is not only a
cornerstone of the digital asset ecosystem but also has the
potential to become a key global strategic reserve asset. The
company remains committed to delivering long-term value to its
shareholders and investors through continued investment and
technological innovation.
Yandai Wang, Chairman and CEO of SOS, commented,
"Bitcoin market performance is robust and supported by
positive developments such as the launch of several
Bitcoin-related ETF options and ongoing improvements
in the U.S. regulatory environment for digital assets. We believe
this investment plan will further enhance the Company's overall
competitiveness and profitability in the digital asset investment
sector."
About SOS Limited
SOS is a multifaceted company that engages in the
blockchain, cryptocurrency operations and
commodity trading. At present, it includes
cryptocurrency mining and may be extended to
cryptocurrency security and insurance in the future.
Since April 2021, we have carried out
commodity transactions through our subsidiary SOS International
Trading Co., Ltd. (the core infrastructure of SOS marketing data).
The technologies and solutions of insurance and emergency rescue
services are based on big data, blockchain based technology, cloud
computing, artificial intelligence, satellite and 5G network. SOS
has created a cloud "software as a service (SaaS)" platform for
emergency rescue services. The products are divided into three
categories: basic cloud, cooperative cloud and information cloud.
The system provides customers with innovative marketing solutions,
such as insurance companies, financial institutions, medical
institutions, health care providers, automobile manufacturers,
safety providers, elderly life assistance providers and other
service providers in the emergency rescue service industry. For
more information, visit: http://www.sosyun.com/.
Forward-Looking Statements
Certain statements in this press release may constitute
"forward-looking statements" within the meaning of the Federal
Securities Act, including but not limited to our expectations of
future financial performance, business strategy or business. These
statements constitute forecasts, prospects and forward-looking
statements and are not performance guarantees. SOS warns that
forward-looking statements are subject to many assumptions, risks
and uncertainties that will change over time. Forward looking
statements may be identified by words such as "may", "can",
"should", "will", "estimate", "plan", "project", "forecast",
"intend", "expect", "predict", "believe", "seek", "target",
"Outlook" or similar words. Specifically, forward-looking
statements may include statements related to the following matters
of the company:
Ability to implement its business plan;
Changes in SOS product and service market; and
Expansion plans and opportunities.
These forward-looking statements are based on information
available as of the date of this press release and our management's
current expectations, forecasts and assumptions, and involve a
number of judgments, risks and uncertainties that may cause actual
results or performance to be materially different from those
expressed or implied by these forward-looking statements.
These risks and uncertainties include, but not are limited to,
the risk factors described by SOS in its filings with the
Securities and Exchange Commission ("SEC"). These risk factors and
those identified elsewhere in this press release, among others,
could cause actual results to differ materially from historical
performance and include, but are not limited to:
- Local government's policies and regulatory oversight of
crypto currency mining operation and our other
operations;
- SOS's blockchain and
super-computing, commodity trading and marketing solutions
businesses are still under development, with many uncertainties in
the future direction and integration of these various business
segments;
- Failure to manage the newly launched commodities trading
business effectively;
- Loss of key customers in the commodity trading business;
- Failure to access a large quantity of power at reasonable costs
could significantly increase SOS operating expenses and adversely
affect our demand for SOS's mining activities;
- Any significant or prolonged failure in the data warehouse
facilities and data mining facilities that SOS operates or services
it provides, including events beyond its control, would lead to
significant costs and disruptions and would reduce the
attractiveness of its facilities, harm its business reputation and
have a material adverse effect on its results of operation;
- Security breaches or alleged security breaches of
our data warehouses could disrupt SOS operations and have a
material adverse effect on its business, financial condition and
results of operation; uncertainty in global supply chain and
international shipping; and
- Other risks and uncertainties indicated in SOS's SEC reports or
documents filed or to be filed with the SEC by SOS.
Accordingly, forward-looking statements should not be relied
upon as representing our views as of any subsequent date, and you
should not place undue reliance on these forward-looking statements
in deciding whether to invest in our securities. We do not
undertake any obligation to update forward-looking statements to
reflect events or circumstances after the date they were made,
whether as a result of new information, future events or otherwise,
except as may be required under applicable securities laws.
View original
content:https://www.prnewswire.com/news-releases/sos-announces-plans-to-strengthen-global-crypto-investment-strategy-and-purchase-up-to-50-million-worth-of-bitcoin-302317469.html
SOURCE SOS Ltd.