AI Firm Genius Group Adopts Bitcoin as Primary Treasury Reserve Asset

Genius Group Restricted has introduced a brand new “Bitcoin-first” technique, making the cryptocurrency its major treasury reserve asset.

The transfer follows a current restructuring of Genius Group’s Board of Administrators to incorporate blockchain and Web3 consultants.

“Bitcoin-First” Technique

In response to a November 12 press release, the AI-driven training and enterprise acceleration agency plans to allocate at the very least 90% of its present and future reserves to Bitcoin. Utilizing its $150 million ATM, the corporate intends to make an preliminary long-term funding of $120 million in Bitcoin, equal to roughly 1,380 BTC at present market charges.

“We consider with our Bitcoin-first technique, we can be among the many first NYSE American listed firms to completely embrace Microstrategy’s Bitcoin technique, for the advantage of our shareholders,” stated the press launch.

The announcement follows a difficult interval for Genius Group, marked by a major drop in its share worth, which fell to below $0.60 amid a public battle in opposition to alleged market manipulation.

CEO Roger Hamilton said that the continuing litigation in opposition to the alleged manipulators is predicted to lead to damages probably exceeding $250 million. He highlighted that adopting clear, decentralized blockchain know-how might assist realign the corporate’s market worth with its underlying belongings, together with $43 million in whole belongings and $23 million in income reported in 2023.

Shares of the Singapore-based firm surged by as a lot as 50% in premarket buying and selling on Monday, although they retracted a lot of the positive aspects later within the day. Nevertheless, Google Finance information exhibits they’re nonetheless up by greater than 61% over the previous 5 days at $0.95 per share.

Extra Crypto-Centred Initiatives

Genius Group additionally plans to introduce Bitcoin as a world cost possibility on its EdTech platform. Moreover, the corporate will launch the “Web3 Wealth Renaissance” training sequence, empowering college students to deepen their understanding of Bitcoin, cryptocurrency, and blockchain with AI-driven studying instruments.

Hamilton additionally identified that, as an AI-driven academic agency, it’s uniquely positioned to steer college students and traders right into a future that bridges conventional finance and decentralized economies.

Genius Group’s transfer to undertake BTC as a reserve asset locations it amongst a rising group of public firms following a path set by MicroStrategy, which adopted the policy in 2020 as a hedge in opposition to inflation. Bitcoin Treasuries data exhibits that the Virginia-based agency at present holds 279,420 BTC.

Extra just lately, firms like medical system maker Semler Scientific and Tokyo-based funding supervisor Metaplanet have additionally dedicated to Bitcoin reserves, every holding over 1,000 BTC.