SOS Limited SOS shares rose on Wednesday following the company’s announcement that its board would approve a plan to invest up to $50 million in Bitcoin BTC/USD has agreed to.
What happened? The board of directors of SOS has approved a global crypto investment strategy that includes investing $50 million in the purchase of Bitcoin. The initiative highlights the company’s commitment to advancing its blockchain business.
SOS noted that its investment strategy is consistent with a more favorable U.S. regulatory environment for cryptocurrencies and growing institutional support for Bitcoin. The company plans to use a variety of quantitative trading strategies to manage its Bitcoin holdings, designed to generate consistent returns.
“Bitcoin’s market performance is robust and is supported by positive developments such as the launch of multiple Bitcoin-related ETF options and ongoing improvements in the US regulatory environment for digital assets. We believe this investment plan supports the company’s competitiveness and profitability in the will further strengthen the digital asset investment industry,” said Yandai WangChairman and CEO of SOS.
SOS stated that the company remains committed to delivering long-term value to shareholders through continued investment and technological innovation.
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Here’s how you can buy SOS shares
It is possible to purchase a block of shares or fractional shares through a brokerage platform. Another option is to gain exposure to stocks through the purchase of an exchange-traded fund (ETF) that holds the stock itself, or by an investor pursuing a strategy within their 401(k) reserve plan to invest stocks in a mutual fund or to purchase other instruments.
For example, SOS belongs to the Industrial sector. An ETF would likely hold shares of many large and liquid companies that operate in that sector, giving an investor the opportunity to gain exposure to trends within that segment.
SOS share price: Up 78.1% to $12.38 at time of publication, so Benzinga Pro.
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