Genius Group buys $5m more in Bitcoin, totaling treasury to $35m

Genius Group Limited increases its Bitcoin Treasury to $35 million.

This acquisition surpasses the milestone ahead of schedule in its ongoing efforts to raise $120 million in Bitcoin assets, according to a company statement.

The latest acquisition comes just two months after the Singapore-based AI-powered education company announced its “Bitcoin first” strategy in early November.

Genius Group added a $5 million Bitcoin (BTC) purchase, bringing its total holdings to 372 BTC with an average purchase price of $94,047 per Bitcoin.

As of January 9, the company’s Bitcoin Treasury was worth $35 million; This puts the current Bitcoin price at around $94,000.

While Genius Group’s market value is $42 million, its BTC-to-price ratio is at 83%.

Additional credit from Genius Group

According to the statement, Genius Group increased its loan with Arch Lending from $10 million to $14 million to further grow its Bitcoin Treasury and kept the loan-to-value ratio at 40%.

In line with its strategy of allocating 90% or more of its reserves to Bitcoin, the company makes heavy use of crypto-backed loans to fund its reserves without selling Bitcoin.

Genius Group, which integrates artificial intelligence solutions into education, sees Bitcoin as an important component of its financial strategy. CEO Roger Hamilton compared the company’s approach to that of other publicly traded companies that have adopted Bitcoin as a reserve asset and highlighted Bitcoin’s potential as a “store of value” in the digital economy.

The firm’s “Bitcoin-first” strategy aligns with its broader plans to incorporate blockchain technology into AI-powered education platforms. These plans include implementing on-chain certificates and reward systems using Bitcoin’s Lightning Network.