Chinese firm invests $50M in BTC: Is China warming up to Bitcoin?

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AMBCrypto 11h ago

Chinese firm invests $50M in BTC: Is China warming up to Bitcoin? - AMBCrypto

Quick Summary:

SOS Limited’s $50M Bitcoin investment boosts the stock by 43%, reflecting growing confidence in digital assets.

Following this, SOS Limited saw a significant surge in its stock price, closing nearly 43% higher at $9.93 on the 27th of November, with an additional 14.5% increase in after-hours trading, reaching $11.36.

On the 26th of November, the company’s stock took a further hit, falling 12% as BTC’s price dipped below $92K, highlighting the volatility and risks that come with heavy reliance on digital assets.