The strategy of incorporating BTC into corporate reserves continues to attract important financial companies. The most recent addition is the Chinese various financial services firm, SOS Limited, formerly called China Rapid Finance. After a prior evaluation by the board of directors, the company officially announces the purchase of Bitcoin.
In a statement published today, the company reported the approval of $50 million to acquire BTC. The group’s management is convinced that Bitcoin is a store of value, which implies that this investment will benefit shareholders.
They claim that this purchase also allows them to increase the company’s presence in the Cryptocurrency and Blockchain sector. Additionally, it solidifies the company’s bullish view on BTC in the long term. The firm’s decision to invest in the leading cryptocurrency occurs in the midst of an interesting context for Bitcoin.
After being very close to $100K last week, the price of BTC is falling and experiencing the worst streak since Donald Trump won the US elections. According to the firm’s management, the fact that the price of the currency is above $90,000 does not represent a danger to your investment. This is because the bullish outlook for 2025 is much greater.
Corporate Bitcoin buying becomes a trend
This year 2024, the turn of companies towards the Bitcoin purchase strategy, such as the one announced by SOS, is notable. The person largely responsible for creating this fever is MicroStrategy and its successful policy of adding BTC to its balance sheets. Both unrealized profits and the appreciation of this firm’s shares reached dizzying levels.
The active projection of its success through the evangelism of its CEO, Michael Saylor, encourages other companies. Currently, following in the footsteps of MicroStrategy, a group of pioneering companies in the adoption of Bitcoin are creating a sensation in different stock exchanges.
These companies include Marathon, Semler Scientific, Tesla, Block, Beck & Bulow, Metaplanet and now SOS Limited. Since 2020, corporate Bitcoin adoption grew by 587%. It is estimated that a total of 40 companies around the world already have Bitcoin in reserves or as a form of commerce.
If the incorporation continues, it can be guaranteed that the price of the token will continue to rise permanently. For pioneering companies like those mentioned above, including SOS, the arrival of new companies to this strategy in the future will guarantee huge profits.
“We believe this investment plan will further improve the company’s overall competitiveness and profitability in the digital asset investment sector,” said SOS CEO Yandai Wang.
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