SOS Ltd., a Chinese cloud computing and crypto mining firm, announced a plan to purchase up to $50 million in Bitcoin, resulting in a nearly 97% surge in its stock price to $13.81 shortly after the announcement. While the stock settled at $12.79, it still recorded an 84% increase for the day. The company views Bitcoin as a cornerstone of the digital asset ecosystem and a potential strategic reserve asset. This move comes amid fluctuating Bitcoin prices, which recently reached an all-time high of over $99,000. Following similar trends, other companies have made significant investments in Bitcoin, including Rumble with a $20 million treasury and Genius Group planning to buy $120 million. Companies like MicroStrategy have pioneered this trend, significantly increasing stock performance through Bitcoin acquisitions since 2020.

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