Key Points
- Shares of Genius Group surged 8.5% after a $14 million investment to boost its Bitcoin portfolio.
- The AI company has increased its Bitcoin holdings to 153 BTC, with a commitment to a “Bitcoin-first” strategy.
Singapore-based Genius Group, an artificial intelligence company, has recently disclosed an additional $4 million investment in Bitcoin (BTC), taking its total Bitcoin holdings to 153 BTC.
Genius Group’s Bitcoin-First Strategy
The company made this purchase following its announcement on November 12th about its commitment to a Bitcoin-first strategy. According to this strategy, Genius Group plans to allocate more than 90% of its reserves to Bitcoin, aiming for an initial target of $120 million in crypto. The firm’s recent $10 million Bitcoin purchase on November 18th was a part of this strategy.
Accelerating Crypto Purchases
This latest acquisition signifies another Bitcoin purchase within two weeks since Genius Group officially established its Bitcoin Treasury.
Roger Hamilton, the Chief Executive Officer of Genius Group, stated that the decision to buy more Bitcoin aligns with the wider trend of publicly listed companies revising their financial strategies and increasing their Bitcoin holdings.
Thomas Power, a board member of Genius Group, highlighted the firm’s belief in Bitcoin as the main store of value that supports exponential technologies. He drew parallels with MicroStrategy’s Bitcoin-centric approach.
