Genius Group expands Bitcoin holdings to $18m in Bitcoin reserve

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. 1 Day to Go! the Genius Group Investor Meeting live from Bitcoin MENA 2024 in Abu Dhabi is live on X Space. December 10, 2024 5.30pm GST | 8.30am EST 🎧 Tune in for exclusive insights into the future of AI, blockchain, and crypto from world-class speakers.… pic.twitter.com/hKbtBrFYfe — GEN!US (@geniususocial) December 9, 2024 You might also like: Number of Bitcoin millionaire wallets to triple in 2024 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. You might also like: Riot pads Bitcoin trove with $500m note sale

Source: crypto.news