Genius Group expands Bitcoin holdings to $18m in Bitcoin reserve

Genius Group significantly strengthened its Bitcoin treasury and purchased 194 Bitcoins worth $18 million at an average price of $92,728 per Bitcoin.

The move is in line with the company’s “Bitcoin-first” strategy, which allocates at least 90% of its reserves to Bitcoin, with a goal of $120 million in assets, according to a company statement.

Genius Group believes that Bitcoin (BTC) has allocated at least 90% of its reserves to Bitcoin and is targeting total assets of $120 million. The initiative began in November with $10 million worth of Bitcoin purchases, followed by consistent weekly investments averaging $2 million.

The company will detail this strategy during its Investor Meeting at Bitcoin MENA 2024 in Abu Dhabi on December 10, where CEO Roger Hamilton will also present its AI-powered “Built on Bitcoin” decentralized education network.

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The live Genius Group Investor Meeting from Bitcoin MENA 2024 in Abu Dhabi is broadcast live on X Space.
10 December 2024 17.30 GST | 08.30 EST

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Artificial Intelligence and Bitcoin

The firm integrates artificial intelligence solutions into education and 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.

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.