Genius Group adds $1.8m to Bitcoin Treasury, now holds 172 BTC

Genius Group Limited, a Singapore-based education and artificial intelligence company, has expanded its Bitcoin-focused strategy by purchasing an additional $1.8 million worth of Bitcoin.

According to the company’s press release, this acquisition brings the company’s total assets to 172 Bitcoins (BTC), valued at $15.8 million, with an average purchase price of $92,006 per Bitcoin. The move follows Genius Group’s commitment to allocate at least 90% of its reserves to Bitcoin, aiming for an initial treasury target of $120 million.

The company, which integrates artificial intelligence solutions into education, sees Bitcoin as the cornerstone of its financial strategy. CEO Roger Hamilton touted Bitcoin’s potential as a “store of value” in the digital economy, likening the company’s approach to other publicly traded firms that have adopted Bitcoin as a reserve asset.

Genius Group’s “Bitcoin First” strategy aligns with its broader plans to incorporate blockchain into AI-powered education platforms. These plans include on-chain certificates and reward systems that leverage Bitcoin’s Lightning Network.

Companies that hold and buy Bitcoin

The move reflects trends among firms like MicroStrategy, which have adopted Bitcoin to diversify treasury holdings during macroeconomic shifts. Genius Group’s emphasis on speed and consistency in Bitcoin purchases reflects a long-term strategy rather than a reaction to market volatility.

This news is in line with the trend of traditional financial institutions to incorporate Bitcoin into their business strategies. On October 14, Samara Asset Group announced plans to purchase additional shares in alternative investment funds and increase its total assets.

The firm’s adoption of Bitcoin underscores the increasing trend of traditional businesses to incorporate cryptocurrency into their financial strategies. With its latest acquisition, Genius Group strengthens its position as a leading advocate for Bitcoin adoption in the education sector, potentially inspiring other companies to explore similar treasury strategies.