Genius Group to Purchase $120M BTC and Adopts Bitcoin as its Primary Treasury Asset

Genius Group, a prominent artificial intelligence company, has announced its move towards a “Bitcoin-first” strategy, committing to hold at least 90% of its treasury reserves in Bitcoin.

Moreover, the significant shift in strategy signals a strong belief in the apex coin’s potential as a store of value, while following the likes of Microstrategy and Grayscale.

As part of this strategy, Genius Group will utilize its existing $150 million ATM facility to acquire an initial $120 million worth of Bitcoin (about 1,380 BTC at current prices). It plans to hold to hold this initial purchase on a longterm.

Beyond simply holding, the group is taking proactive steps to integrate it into its operations. The firm plans to launch a comprehensive educational series, “Web3 Wealth Renaissance,” aimed at providing insights into the evolving landscape of Web3 and the role of Bitcoin within it.

Genius Group to Make Bitcoin a Payment Option

Genius Group will enable Bitcoin payments on its EdTech platform, offering its users a convenient and secure method of engagement.

The strategic move comes at a time when Genius Group has reported $23 million in audited annual revenue for 2023, with total assets reaching $43 million. Despite this positive financial performance, the company currently faces a market capitalization of $12 million, presenting a potentially undervalued opportunity for investors.

While Genius Group navigates this strategic shift, it also faces ongoing litigation against alleged market manipulators, with estimated damages exceeding $250 million. The company’s resolve to pursue these claims demonstrates its commitment to transparency and its determination to protect its shareholders.

Genius Group is not the first to adopt Bitcoin as its reserves. It follows the likes of Michael Saylor’s MicroStrategy which now holds 279,420 BTC ($24 billion) after adopting a strategy of acquiring bitcoin in 2020 as a hedge against inflation.

In May, medical device maker Semler Scientific followed suit and now holds over 1,000 bitcoins. Tokyo-based Metaplanet, an investment adviser, joined the movement just days later and now also holds over 1,000 BTC.

“We see Bitcoin as the primary store of value that will power these exponential technologies,” Thomas Power, a director of Genius Group, stated. “We fully endorse the compelling case that Michael Saylor and Microstrategy have made for public companies to invest in Bitcoin as their primary treasury reserve asset.”