Genius Group has significantly bolstered its Bitcoin treasury, acquiring 194 Bitcoin worth $18 million at an average price of $92,728 per Bitcoin.
This move aligns with its โBitcoin-firstโ strategy, which commits at least 90% of the companyโs reserves to Bitcoin, with a target of $120 million in holdings, according to a company release.
ย Genius Group sees Bitcoin (BTC) which dedicates at least 90% of its reserves to Bitcoin, aiming for a total of $120 million in holdings. The initiative began in November with a $10 million Bitcoin purchase, followed by consistent weekly investments averaging $2 million..
The company will elaborate on this strategy during an Investor Meeting at Bitcoin MENA 2024 in Abu Dhabi on December 10, where CEO Roger Hamilton will also present the AI-powered โBuilt on Bitcoinโ decentralized education network.
AI and Bitcoinย
The firm integrates AI solutions into education and views Bitcoin as a cornerstone of its financial strategy. CEO Roger Hamilton has likened the companyโs approach to other publicly traded firms adopting Bitcoin as a reserve asset, citing its potential as a โstore of valueโ in the digital economy.
Genius Groupโs โBitcoin-firstโ strategy aligns with its broader plans to incorporate blockchain into its AI-powered educational platforms. These plans include on-chain certifications and rewards systems leveraging Bitcoinโs Lightning Network.
This move mirrors trends among firms like MicroStrategy, which have embraced Bitcoin to diversify treasury holdings amid macroeconomic shifts. Genius Groupโs emphasis on speed and consistency in its Bitcoin acquisitions reflects a long-term strategy rather than reacting to market volatility.ย
