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$SOS Connecting the dots. and the ultimate DD thread Lets start here:
https://finance.yahoo.com/news/sos-ltd-announces-aspiring-crypto-133000080.html
This was big news, and outlined its business plan and area of focus. The mining is great, but the Defi, security, and insurance plans positions them as leaders in this space
https://finance.yahoo.com/news/sos-ltd-announces-aspiring-crypto-133000080.html
This was big news, and outlined its business plan and area of focus. The mining is great, but the Defi, security, and insurance plans positions them as leaders in this space
Hiring of Dr. Eric Yan was huge, as he is a renowned expert in blockchain security and insurance for crypto currency and digital assets. He brought unparalleled past experience and is central to their expansion plans. https://finance.yahoo.com/news/dr-huazhong-eric-yan-renowned-130000244.html
Jan 19, the company pursing this at warp speed, acquire a Canadian based company (LOI) specializing in the blockchain technology consulting and operations/support for cryptocurrency exchanges. https://finance.yahoo.com/news/sos-ltd-enters-non-binding-130000981.html
2 days later, $SOS announces a purchase agreement to acquire 15645 mining rigs as not content with being a one trick pony, they are going to be everything Crypto: https://finance.yahoo.com/news/sos-ltd-enters-purchase-agreement-133000829.html
Next up, they complete the initial steps of executing its blockchain strategy by successfully developing cutting edge firewall system. Their intellectual assets show a complete ecosystem for the insurance industry based on blockchain, big data, AI, 5G, etc https://finance.yahoo.com/news/sos-announces-development-cutting-edge-163400577.html
Most recently, a very important development, was the framework agreement which guarantee low electricity prices to support the cloud crypto mining and big data center. This is key to profitability in mining. https://finance.yahoo.com/news/sos-ltd-enters-framework-agreement-132900639.html
Bitcoin is becoming Mainstream.
Paypal announces they will provide a platform to purchase Crypto: https://www.theblockcrypto.com/post/94687/paypal-ceo-central-bank-digital-currencies
Paypal announces they will provide a platform to purchase Crypto: https://www.theblockcrypto.com/post/94687/paypal-ceo-central-bank-digital-currencies
Tesla announces they have converted $1.5B of cash to Bitcoin (and is likely only their first batch). THis is 5% if their reserves: https://www.cnbc.com/2021/02/08/tesla-buys-1point5-billion-in-bitcoin.html
Mastercard and BNY Mellon Embrace Crypto: https://www.bnnbloomberg.ca/bitcoin-hits-record-as-mastercard-bny-mellon-embrace-crypto-1.1562196
Finally, what do these companies jumping aboard mean for the price of bitcoin? Its simply the age old supply and demand conundrum. There is a capped supply of bitcoin (21 million coins) which is why its referred to as digital gold.: https://decrypt.co/33124/what-will-happen-to-bitcoin-after-all-21-million-are-mined
Now lets look at the value of SOS compared to others. SOS has a market cap of $2.8 MILLION, and have NO competition for their data and insurance plans in the crypto space. Compared to pure (non diversified) mining plays, $MARA MC=$3.54 BILLION, $RIOT = $2.17B, $BTBT = $1.27B
So, the business plan is sound, whether it be mining, insurance, cloud security infrastructure (which will be massive in this space), or even as a bank, these guys have blue sky potential. I'm positioned accordingly.
