SOS Limited's Strategic Bitcoin Investment

SOS Limited's stock experienced a remarkable 26% surge in premarket trading on Wednesday, following the company's announcement of a $50 million investment in Bitcoin. The decision was approved by the board, who emphasized Bitcoin's potential as a strategic reserve asset and a store of value.

SOS aims to employ quantitative strategies, including trading and arbitrage, to mitigate volatility and optimize returns. CEO Yandai Wang highlighted the positive momentum in cryptocurrency markets, supported by Bitcoin ETFs and evolving US regulations.

This announcement comes amid a broader cryptocurrency surge, with Bitcoin approaching $100,000 and Ethereum up 5% today.