NEW YORK, November 27, 2024 — SOS Limited, a diversified organization involved in blockchain technology, digital currency ventures, and commodity exchange, today revealed that its governing board has sanctioned a plan to allocate $50 million towards the acquisition of Bitcoin (BTC). This action highlights SOS’s dedication to furthering its blockchain-related activities and reaffirms the firm’s enduring conviction in Bitcoin’s significance as a valuable reserve and a key strategic asset.
This investment proposal surfaces as Bitcoin attains record-breaking values and sustains widespread interest from investors across the globe. Recent market analysis indicates that Bitcoin’s value has escalated to roughly $93,000 per unit, with forecasts suggesting a potential rise beyond the $100,000 threshold by the close of the year. SOS’s investment approach closely mirrors the positive dynamics within the digital currency sphere, boosted by an increasingly supportive regulatory landscape in the United States for digital assets and augmented backing from institutions for Bitcoin.
To optimize profits and reduce potential risks from market fluctuations, SOS intends to implement a range of sophisticated trading techniques, including strategies involving investment, trading activities, and arbitrage.
These methods are engineered to generate reliable earnings within the market, concurrently refining the Company’s investment holdings over the long run.
This decision underscores SOS Ltd.’s endeavors to increase investments in digital assets. SOS views Bitcoin not just as a foundational component of the digital asset environment, but also as a potential significant global strategic reserve asset. The organization’s commitment remains focused on providing enduring value to its stakeholders and investors through continuous investment and advanced technological developments.
Yandai Wang, Chairman and CEO of SOS, stated, “Bitcoin’s market performance is strong, propelled by encouraging developments such as the introduction of various Bitcoin-linked ETF choices and progressive enhancements in the U.S. regulatory framework for digital assets. We anticipate that this investment roadmap will further bolster the Company’s comprehensive competitiveness and profitability within the digital asset investment arena.”
About SOS Limited
SOS is a diversified organization that engages in 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 announcement might be considered “forward-looking statements” as defined under Federal Securities regulations. This includes, but isn’t limited to, our expectations regarding future financial results, strategic direction, or operational plans. Such statements represent forecasts, expectations, and predictions, not guarantees of future performance. SOS advises that these statements are based on numerous assumptions, risks, and uncertainties that may shift. These statements can be identified using terms like “may,” “can,” “should,” “will,” “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “predict,” “believe,” “seek,” “target,” “Outlook,” or comparable expressions. Notably, forward-looking statements may involve discussions about:
The capacity to execute the company’s operational strategy;
Changes in the market for SOS products and services;
And expansion plans and potential prospects.
These statements rely on data available as of the release date and management’s current beliefs, predictions, and assumptions. They are subject to numerous judgments, hazards, and ambiguities that could cause actual outcomes to substantially deviate from those explicitly stated or implied.
Such risks and uncertainties encompass, but are not limited to, the risk elements SOS details in its submissions to the Securities and Exchange Commission (“SEC”). These risk factors, as well as those highlighted in this release, may lead to actual results differing materially from past performance and involve, among other things:
- The influence of local government policies and regulatory oversight concerning cryptocurrency mining operations and our other business activities;
- The status of SOS’s blockchain technology, super-computing capabilities, commodity trading platforms, and marketing solutions, which are under continuous development with inherent uncertainties;
- Potential difficulties in managing the newly established commodities trading business effectively;
- Possible loss of significant customers in the commodity trading sector;
- Difficulties in securing sufficient power resources at reasonable costs, potentially escalating SOS’s operating expenses and affecting mining operations negatively;
- Any substantial or prolonged interruptions or failures in the operation or servicing of SOS’s data warehousing and data mining facilities, including events beyond the company’s control, which could significantly increase costs, create disruptions, impair business reputation, and adversely affect operational results;
- Potential security incidents or breaches affecting our data warehouses, potentially disrupting operations and materially impacting our business, financial status, and operational results; uncertainties related to global supply chain issues and international shipping;
- And other risks and uncertainties as detailed in SOS’s reports submitted to the SEC.
Therefore, undue reliance should not be placed on these forward-looking statements as indicators of views beyond the current date, nor should they be the sole basis for investment decisions regarding our securities. We undertake no obligation to revise or update these forward-looking statements to reflect new information, future events, or changes in circumstances, except as required by law.
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SOURCE SOS Ltd.