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 “Bitcoin-first” strategy, which commits at least 90% of the company’s reserves to Bitcoin, with a target of $120 million in holdings, according to a company release.
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 “Built on Bitcoin” decentralized education network.
AI and Bitcoin
The firm integrates AI solutions into education and views Bitcoin as a cornerstone of its financial strategy. CEO Roger Hamilton has likened the company’s approach to other publicly traded firms adopting Bitcoin as a reserve asset, citing its potential as a “store of value” in the digital economy.
Genius Group’s “Bitcoin-first” 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 Bitcoin’s Lightning Network.
This move mirrors trends among firms like MicroStrategy, which have embraced Bitcoin to diversify treasury holdings amid macroeconomic shifts. Genius Group’s emphasis on speed and consistency in its Bitcoin acquisitions reflects a long-term strategy rather than reacting to market volatility.
