90% of Genius Group’s reserves are allocated to Bitcoin, and the company intends to invest $120 million to strengthen its edtech platform.
Source: TFTC.io
- Genius Group purchased 1,380 BTC with $120 million in ATM funds, allocating 90% of its assets to Bitcoin.
- Genius Group’s board makeover focuses on blockchain; it proposes Bitcoin payments on the EdTech platform.
- After deciding to focus on Bitcoin first, Genius Group’s stock jumps 10% to $0.70.
The corporation has established a “Bitcoin-first” Treasury approach. This shows that it intends to hold most of its savings in Bitcoin rather than traditional currency.
This decision is consistent with other organizations, such as MicroStrategy, which have adopted Bitcoin as their principal financial asset. The decision, endorsed by the company’s reorganized board, is one of the most substantial moves by a publicly traded AI corporation into cryptocurrency.
Bitcoin-First Strategy Adopted by Genius Group
At least 90% of Genius Group’s cash reserves are being allocated to Bitcoin. Both its present savings and its future earnings are included in this. The company’s initial aim was to use an at-the-market (ATM) offering to raise $150 million. It plans to use that money to purchase roughly $120 million worth of Bitcoin, which would become the company’s primary bank asset.
Source: Cointelegraph
The purchase would be worth about 1,380 BTC at current levels, highlighting the company’s transition to a reserve focused on Bitcoin.
Blockchain-experienced Genius Group Director Thomas Power stated, “We see Bitcoin as the primary store of value that will power these exponential technologies.” He said that the company’s policy is in line with the one that MicroStrategy, which has had substantial Bitcoin holdings in its Treasury since 2020, pioneered.
Genius Group Integrates Bitcoin Education and Payments to Enter Web3
The Genius Group will allow Bitcoin payments on its educational technology platform besides its Bitcoin holdings. The choice might draw more people. It may appeal especially to tech-savvy students who are curious about blockchain and decentralized finance.
Source: Bitcoin Magazine
By making this choice, Genius Group becomes one of the many businesses using Bitcoin in their treasury plans. Recently, Tokyo-based financial consultant Metaplanet and medical equipment manufacturer Semler Scientific took a similar tack.
CEO Roger Hamilton thought blockchain may assist in combat market manipulation. Hamilton sees Bitcoin and blockchain as methods for increasing transparency and positively impacting Genius Group’s stock value.
Following the announcement, Genius Group’s stock increased significantly. The initial gain was 50% in premarket trading. Later, the shares gained 10% to $0.70.
