With the increasing market recognition of Bitcoin, the Chinese concept stock SOS has followed suit by investing $50 million in Bitcoin, leading to a significant surge in its stock price. In fact, several listed companies in China have already included Bitcoin in their reserve assets, which not only optimizes the company's asset structure and brings additional income but also significantly drives up stock prices.
Written by: Nancy, PANews
The strategy of including Bitcoin in reserve assets is gaining global popularity. Recently, SOS Ltd. (SOS) listed on the New York Stock Exchange announced plans to purchase $50 million worth of Bitcoin, and the stock price surged immediately after the announcement. Meanwhile, as Bitcoin's market recognition continues to rise, several listed companies in China are incorporating Bitcoin into their reserve assets. This strategy not only optimizes the company's asset structure and brings additional income but also significantly drives up stock prices.
Announcing a $50 million Bitcoin investment plan, SOS has been involved in crypto mining for years
On November 27, SOS announced that its board of directors had approved a plan to invest $50 million in Bitcoin. SOS believes that this move emphasizes the company's commitment to advancing its blockchain industry and reinforces its long-term belief in Bitcoin as a store of value and strategic asset, which will further enhance the company's overall competitiveness and profitability in the digital asset investment field.
After the announcement, SOS's stock price opened at a high of $15.11 before retreating, still achieving a gain of 42.88%. According to official information, SOS provides digital technology services for industries such as emergency rescue, big data marketing, international trade, and digital assets through core technologies like AI + blockchain technology + satellite communication + big data, offering clients a one-stop digital overall solution. At the same time, SOS is also a multi-faceted company engaged in Bitcoin, cryptocurrency business, and commodity trading, with operations including cryptocurrency mining, and may expand into cryptocurrency security and insurance in the future.
In fact, SOS has been laying out its crypto mining business for many years. For instance, as early as 2020, SOS announced it spent about $20 million to procure 14,238 Bitcoin mining machines and 1,408 Ethereum mining machines, expecting to generate daily revenue of $206,000 at that time; in 2023, SOS announced the launch of over 5,000 self-owned mining machines at its Texas hosting center and has signed a hosting agreement with Bitmain, with a total of 6,000 hosted mining machines, set to expire on August 20, 2025.
Regarding this Bitcoin investment plan, SOS explained in the announcement that Bitcoin has recently reached an all-time high and continues to attract global investor attention. Bitcoin is not only an important component of the digital asset ecosystem but also has the potential to become one of the global strategic reserve assets. Coupled with the positive dynamics in the current cryptocurrency market, including the more favorable U.S. policy environment towards digital assets and the preference of major financial institutions for Bitcoin, SOS is committed to bringing long-term value to shareholders and investors through continuous investment and technological innovation, while actively contributing to the sustainable development of the global digital economy.
To maximize investment returns and reduce market volatility risks, SOS plans to adopt various quantitative trading strategies, including investment, trading, and arbitrage strategies, to help the company achieve stable returns in the current market environment while further optimizing its investment portfolio over time.
Several Hong Kong-listed companies are buying Bitcoin: Long-term layouts yield substantial profits, short-term entries lead to stock price surges
Since the second half of this year, an increasing number of listed companies worldwide have actively included Bitcoin in their asset allocation, especially in the U.S. and Japan, where many listed companies have announced related plans aimed at optimizing their financial structure and achieving asset appreciation, while also promoting the widespread application and popularization of crypto assets.
In addition to SOS, some Chinese listed companies have also shown strong interest and active participation. From the Bitcoin holdings of the five Hong Kong-listed companies discussed below, some companies have profited significantly from years of layout, but their stock prices have not seen significant increases this year. Conversely, some companies that announced Bitcoin investment plans this year saw their stock prices rise significantly after making large purchases of Bitcoin.
Meitu: Bitcoin holdings have appreciated over $40 million
Meitu invested in crypto assets as early as 2021 and has not made any additional purchases or sales since then. According to data from BitcoinTreasuries.com, as of November 28, Meitu holds 941 Bitcoins, currently valued at over $89.98 million. Based on a cost price of $52,611, Meitu has an unrealized gain of over $40.473 million. Meitu disclosed last year that the company would consider selling cryptocurrencies at an appropriate time, but currently has no specific disposal plans.
Market data shows that Meitu's stock price has not experienced a sustained upward trend this year, having fallen over 21.9% since the beginning of the year.
Boyaa Interactive: Holds over 2,460 Bitcoins, stock price has surged over 750% this year
Boyaa Interactive is one of the largest listed companies in Asia by Bitcoin holdings. Market data shows that Boyaa Interactive's stock price has increased by 753.45% this year, reaching a new high since October 2016.
According to a recent announcement from Boyaa Interactive, the company holds a total of 2,641 Bitcoins and 15,445 Ethereum, with a total cost of approximately $143 million, meaning the average cost per Bitcoin is $54,027 and per Ethereum is $2,756. Based on the latest price on November 28, Boyaa Interactive has an unrealized gain of over $165 million.
Guofu Innovation: Purchased HKD 36 million in Bitcoin within six months, stock price peaked at over 134% increase
Since Guofu Innovation publicly announced its cryptocurrency investment plan, this Hong Kong-listed company purchased Bitcoin worth approximately HKD 36 million in the open market from March to August. Market data shows that since the announcement in March, Guofu Innovation's stock price has increased by about 134.7% at its peak.
NetDragon: Holds crypto assets for at least three years, has made a profit of HKD 51 million
Hong Kong-listed company NetDragon Websoft is a global online and mobile internet education company that builds an innovative educational ecosystem based on its technology and operational knowledge in the mobile internet. As early as its 2021 annual report, NetDragon disclosed that it held cryptocurrencies worth HKD 127 million, and in the following years, the company experienced losses of tens of millions. However, the 2024 mid-year report shows that the company sold cryptocurrencies worth HKD 290 million in the first half of this year, making a profit of HKD 51 million.
Market data shows that NetDragon's stock price has fallen by 19.6% since the beginning of the year, with only a brief upward trend.
Coolpad Group: BlackRock's IBIT holdings have unrealized gains of approximately $2.19 million
Coolpad Group invested tens of millions of dollars in crypto assets this year. In addition to purchasing shares in crypto mining companies, the company also invested approximately $4.03 million in 113,000 shares of BlackRock's IBIT, with a share price of about $35.64. Based on IBIT's latest price of $55.03, Coolpad has an unrealized gain of $2.191 million. It is worth mentioning that Coolpad's announcement in October indicated that the company would continue to remain suspended from trading.
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