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SOS Limited ($SOS) Shares Jump 20% After Board Approves $50 Million Bitcoin Purchase

Nov 27, 2024, 02:28 PM

Chinese publicly traded company SOS Limited ($SOS) has announced plans to purchase up to $50 million worth of Bitcoin, aiming to strengthen its global crypto investment strategy. The company's board has approved the plan, reflecting SOS's continued expansion into the cryptocurrency space by adding significant digital assets to its balance sheet. Following the announcement, SOS shares rose 20% in pre-market trading. This move demonstrates the company's confidence in Bitcoin's future as a strategic global asset amid the cryptocurrency's recent price gains.