Genius Group expands Bitcoin holdings to 191 BTC with $2.2M purchase, implementing "Bitcoin-first" strategy targeting $120M in reserves, while planning AI-powered education platform on Bitcoin.
Genius Group, a Singapore-based education technology firm, continues to expand its footprint in the cryptocurrency space with its latest Bitcoin BTC $96 953 24h volatility: 3.2% Market cap: $1.92 T Vol. 24h: $145.78 B acquisition valued at $2.2 million. On December 9, the company announced that this purchase brought its total Bitcoin holdings to 191 BTC, worth approximately $18 million at an average acquisition price of $92,728 per Bitcoin.
Genius Group first declared its commitment to Bitcoin as a treasury reserve asset on November 12, following in the footsteps of industry leaders like MicroStrategy. The company’s “Bitcoin-first” strategy involves allocating 90% or more of its current and future reserves to Bitcoin, with a long-term target of $120 million in holdings.
To kickstart this strategy, Genius Group invested $10 million in Bitcoin shortly after the announcement. Since then, it has consistently added to its reserves, acquiring an average of $2 million worth of Bitcoin weekly. This strategic move underscores the company’s confidence in Bitcoin as a store of value and a cornerstone for its financial operations.
The company is set to unveil its broader growth plans during an Investor Meeting at Bitcoin MENA 2024 in Abu Dhabi on December 10. Scheduled for 5:30 PM UAE time (8:30 AM US Eastern Time), the meeting will feature Genius Group’s CEO, Roger Hamilton, who will outline the firm’s vision for 2025.
Key topics will include the expansion of its “Bitcoin-First” Treasury Strategy and the development of its AI-powered decentralized education platform, “Built on Bitcoin.” The platform aims to revolutionize learning through on-chain Genius Education Merits (GEMs), AI tutors, and certifications powered by Bitcoin’s Lightning Network.
Genius Group is not alone in bolstering its Bitcoin reserves. On the same day, MicroStrategy announced a significant Bitcoin purchase, acquiring 21,550 BTC for approximately $2.1 billion in cash. The purchase, made at an average price of $98,783 per Bitcoin, was funded through proceeds from the sale of 5.4 million company shares between December 2 and December 8, 2024.
This latest acquisition raises MicroStrategy’s total Bitcoin holdings to 423,650 BTC, with an aggregate purchase price of $25.6 billion and an average cost of $60,324 per Bitcoin.
Meanwhile, both Genius Group and MicroStrategy’s strategic acquisitions come at a time when Bitcoin has surpassed the $100,000 mark, cementing its position as a premier digital asset. These moves reflect a growing trend among corporations leveraging Bitcoin to hedge against inflation and embrace the potential of decentralized finance.
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Chimamanda is a crypto enthusiast and experienced writer focusing on the dynamic world of cryptocurrencies. She joined the industry in 2019 and has since developed an interest in the emerging economy. She combines her passion for blockchain technology with her love for travel and food, bringing a fresh and engaging perspective to her work.
