Genius Group launches $33m rights offering to boost Bitcoin reserve

Genius Group Limited, a Bitcoin-focused education company, announced a $33 million rights offering to expand Bitcoin Treasury.

According to the company’s statement, the offering will allow existing shareholders to purchase additional shares at $0.50 each, with the proceeds fully allocated to Bitcoin (BTC) purchases.

As of January 24, 2025, each shareholder will receive a transferable right for each share he or she owns. These rights will allow shareholders to purchase shares at a set price and, if fully exercised, will give them the option to purchase the remaining unsubscribed shares.

Shareholders who choose not to exercise their rights may sell their rights on NYSE American, with trading beginning January 23, 2025. The rights offering will close on February 14, 2025.

Genius Group’s embrace of Bitcoin

The move is part of Genius Group’s plan to increase its Bitcoin holdings. If fully subscribed, the offering would raise $33 million and increase the company’s Bitcoin reserves from $35 million to $68 million. Additionally, the company aims to take out a loan of up to $20 million, which could increase its Bitcoin Treasury to $86 million.

Founder and CEO Roger Hamilton plans to purchase 500,000 additional shares as part of an earlier deal and has committed to fully subscribing for his rights in the IPO, according to the statement. Its shareholding may exceed 10% of the company’s total shares.

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 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.