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China-based company SOS Limited plans to tap Bitcoin to support its investment portfolio and extract value from the fast-growing cryptocurrency. 
SOS CEO and chairman Yandai Wang said the publicly traded firm would purchase up to $50 million worth of Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank">BTC</a>), as approved by the board of directors. According to Wang, SOS holds a “long-term belief in Bitcoin” as a strategic asset and a global store of value.&nbsp; 
Plans to build an SOS BTC reserve further showcase the company’s thesis while also expanding its digital asset investments and boosting profits, a Nov. 27 <a href="https://www.prnewswire.com/news-releases/sos-announces-plans-to-strengthen-global-crypto-investment-strategy-and-purchase-up-to-50-million-worth-of-bitcoin-302317469.html" target="_blank" rel="nofollow">press statement</a> said. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “Bitcoin market performance is robust and supported by positive developments such as the launch of several BTC-related ETF options and ongoing improvements in the U.S. regulatory environment for digital assets.” 
 Yandai Wang, SOS CEO and chairman 
</blockquote> 
 You might also like: <a rel="" href="https://crypto.news/microstrategys-bitcoin-plan-gobbles-another-5-4b/"> MicroStrategy’s Bitcoin plan gobbles another $5.4b </a> 
<h2 class="wp-block-heading" id="bitcoin-reserve-trend">Bitcoin reserve trend</h2> 
SOS Ltd. joined a growing list of firms adopting BTC as a reserve asset in Asia and worldwide. Singapore-located Genius Group <a href="https://crypto.news/ai-startup-genius-group-picks-bitcoin-as-main-treasury-asset/" target="_blank">disclosed</a> its first $120 million BTC buy on Nov. 12.&nbsp;Days later, the artificial intelligence startup strengthened its BTC treasury with another $14 million <a href="https://crypto.news/ai-firm-genius-group-boosts-bitcoin-treasury-with-14m-purchase/" target="_blank">purchase</a>. 
Metaplanet in Tokyo started buying BTC in early April as it pivoted to alternative assets. Like MicroStrategy, the entity raised capital through debt and equity sales to finance its stockpile. It <a href="https://crypto.news/metaplanet-adds-142-btc-to-its-holdings-with-11-3m-purchase/" target="_blank">owned</a> over 1,421 BTC valued north of $104.5 million as of Nov. 19. 
There were also reports that the Japanese company Remixpoint started allocating capital toward a corporate BTC stash. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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 https://twitter.com/BitcoinMagazine/status/1861701165420806604 
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The news marked a growing trend of private establishments flocking to the world’s biggest cryptocurrency. Michael Saylor’s MicroStrategy led the pack as the largest publicly known corporate BTC holder. Since starting its aggressive BTC strategy in 2020, MicroStrategy has spent over $21 billion buying BTC and <a href="https://crypto.news/microstrategys-bitcoin-plan-gobbles-another-5-4b/" target="_blank">boasted</a> more than $15 billion in unrealized profits. 
Nation states also jumped on the BTC bandwagon. The U.S., under President-elect Donald Trump, worked toward a strategic reserve.&nbsp;An executive White House order or a proposal from Senator Cynthia Lummis in Congress may <a href="https://crypto.news/senator-lummis-u-s-is-going-to-build-a-strategic-btc-reserve/" target="_blank">realize</a> this policy as early as 2025. 
 Read more: <a rel="" href="https://crypto.news/bitcoin-reserve-bill-introduced-in-brazils-congress/"> Bitcoin reserve bill introduced in Brazil’s Congress </a>

Chinese SOS Ltd to buy Bitcoin worth $50m for reserve

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