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

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

This decision aligns with its “Bitcoin-first” strategywhich commits at least 90% of the company’s reserves to Bitcoin, with a goal of $120 million in holdings, according to a company statement.

Genius Group sees Bitcoin (BTC) which devotes at least 90% of its reserves to Bitcoin, aiming for a total holding of $120 million. The initiative began in November with a $10 million Bitcoin purchase, followed by consistent weekly investments averaging $2 million.

The company will expand on this strategy at an investor meeting at Bitcoin MENA 2024 in Abu Dhabi on December 10, where CEO Roger Hamilton will also present the AI-powered decentralized education network “Built on Bitcoin.”

AI and Bitcoin

The company integrates AI solutions into education and considers Bitcoin a cornerstone of its financial strategy. CEO Roger Hamilton compared the company’s approach to other publicly traded companies adopting Bitcoin as a reserve asset, citing its potential as a “store of value” in the digital economy.

Genius Group’s “Bitcoin-first” strategy aligns with its broader plans to integrate blockchain into its AI-powered education platforms. These plans include on-chain certifications and rewards systems leveraging Bitcoin’s Lightning Network.

This development reflects trends among companies like MicroStrategywho have adopted Bitcoin diversify Treasury assets in a context of macroeconomic changes. Genius Group’s focus on the speed and consistency of its Bitcoin acquisitions reflects a long-term strategy rather than reacting to market volatility.