AI Firm Genius Group Adopts Bitcoin as Primary Treasury Reserve Asset

Genius Group Limited has announced a new “Bitcoin first” strategy, making the cryptocurrency its primary treasury reserve asset.

The move follows a recent restructuring of Genius Group’s Board of Directors to include blockchain and Web3 experts.

“Bitcoin-First” Strategy.

According to a Nov. 12 press release, the AI-powered education and business acceleration company plans to allocate at least 90% of its current and future reserves to Bitcoin. Using its $150 million ATM, the company intends to make an initial long-term investment of $120 million in Bitcoin, equivalent to approximately 1,380 BTC at current market prices.

“We believe that with our Bitcoin-first strategy, we will be one of the first US companies listed on the New York Stock Exchange to fully embrace Microstrategy’s Bitcoin strategy, to the benefit of our shareholders,” the press release said.

The announcement follows a difficult period for Genius Group, marked by a significant drop in its share price, which fell below $0.60 amid a public battle against alleged market manipulation.

Chief executive Roger Hamilton stated that the ongoing litigation against the alleged manipulators is expected to result in damages potentially in excess of $250 million. He highlighted that the adoption of transparent and decentralized blockchain technology could help realign the company’s market value with its underlying assets, including $43 million in total assets and $23 million in reported revenue by 2023.

Shares in the Singapore-based company jumped as much as 50% in premarket trading on Monday, although they gave back much of the gains later in the day. However, data from Google Finance shows they are still up more than 61% over the past five days to $0.95 per share.

More initiatives focused on cryptography

Genius Group also plans to introduce Bitcoin as a global payment option on its EdTech platform. In addition, the company will launch the “Web3 Wealth Renaissance” educational series, which will allow students to deepen their understanding of Bitcoin, cryptocurrency and blockchain with AI-powered learning tools.

Hamilton also noted that as an AI-powered educational company, it is uniquely positioned to lead students and investors into a future that bridges traditional finance and decentralized economies.

Genius Group’s move to adopt BTC as a reserve asset places it among a growing group of public companies following a path blazed by MicroStrategy, which adopted the policy in 2020 as a hedge against inflation. Data from Bitcoin Treasuries shows that the Virginia-based company currently holds 279,420 BTC.

More recently, companies such as medical device maker Semler Scientific and Tokyo-based investment manager Metaplanet have also pledged Bitcoin reserves, each holding more than 1,000 BTC.

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

2024 LIMITED OFFER on BYDFi Exchange – Up to $2888 Welcome Reward, Use this link to register and open a 100 USDT-M position for free!