Genius Group Limited, an AI-powered, Bitcoin-first education group, announced an increase in its Bitcoin holdings on Monday.
According to the press release, the company added an additional $1.8 million to its Bitcoin Treasury, bringing its total Bitcoin reserves to 172 BTC, worth $15.8 million at an average net price of $92,006 per Bitcoin.
From Vision to Action: Genius Group’s Bold Bitcoin Strategy Gathers Momentum
The purchase comes just three weeks after the company unveiled its “Bitcoin-first” strategy on November 12, committing to hold 90% or more of its current and future reserves in Bitcoin. The initial target for this strategy is $120 million in Bitcoin.
On November 19, Genius Group took its first important steps towards this goal, purchasing 110 Bitcoin for $10 million, with an average price of $90,932 per Bitcoin.
Roger Hamilton, CEO of Genius Group, explained that despite adopting a similar treasury approach to MicroStrategy, the company initially lacked a clear roadmap.
The company launched a podcast on November 19 to assist other firms in considering Bitcoin for their treasury reserves.
Additionally, Genius Group will host an Investor Meeting on December 10, live from Bitcoin MENA 2024 in Abu Dhabi.
During the meeting, Hamilton will share the company’s growth plans for 2025, including details on its “Bitcoin-First” Treasury Strategy and its AI-powered decentralized education network plan.
The plan will include on-chain Genius Education Merits (GEMs), AI tutors, and AI certifications built on the Lightning Network.
Genius Group serves 5.4 million users across more than 100 countries, offering AI-powered education and acceleration solutions tailored to the evolving needs of the workforce.
Its Genius City model and digital marketplace focus on providing AI training, tools, and talent, blending human expertise with AI capabilities across individual, enterprise, and government levels.
Bitcoin-First Approach Pays Off: Genius Group Sees 66% Stock Surge
Following in the footsteps of Michael Saylor’s MicroStrategy, several other firms have embraced Bitcoin reserves this year.
MicroStrategy recently announced the acquisition of approximately 15,400 BTC between November 25 and December 1, bringing its total holdings to 402,100 BTC, acquired at an aggregate price of around $23.4 billion.
This equates to an average purchase price of $58,263 per Bitcoin, including associated fees and costs.
On November 18, Semler Scientific, a tech solution provider, announced the acquisition of 215 Bitcoin between November 6 and 15 for $17.7 million, raising its holdings to 1,273.
Similarly, Japanese investment firm Metaplanet, which holds more than 1,000 Bitcoin, revealed plans to buy more, funding the acquisition through one-year bonds worth 1.75 billion yen ($11.3 million).
Bitcoin mining firm MARA Holdings (formerly Marathon Digital) also entered the Bitcoin reserve game, offering $700 million in convertible senior notes partly to acquire more Bitcoin.
Meanwhile, Genius Group Limited’s adoption of a “Bitcoin-first” strategy drove a 66% surge in its stock price on November 12.
Source:cryptonews.com
