Outside Source
Singapore-based artificial intelligence company Genius Group has boosted its crypto holdings, purchasing by an additional $2 million to 440 Bitcoin for $42 million.
The Singapore-based AI and education company Genius Group now holds more Bitcoin (BTC) than its own market value. The company has increased its Bitcoin reserves to 440 BTC, adding another $2 million in purchases, it said in a Feb. 3 press release.
Genius has now spent $42 million on Bitcoin at an average price of $95,519 per BTC. But with Bitcoin trading at $104,893 as of Jan. 31, the company’s Bitcoin treasury is worth $46 million — while its own market cap sits at $33.1 million. That means each $100 in Genius stock technically holds $139 in Bitcoin.
“This gives the Company a BTC / Price ratio of 139%, with the ratio calculated by dividing the market value of the Company’s Bitcoin Treasury by its market cap. Based on this ratio, as at January 31, 2025, $100 of the Company’s equity includes $139 in Bitcoin in its Bitcoin Treasury.”
Genius Group
The latest buy follows Genius’ $5 million Bitcoin purchase weeks ago. The firm has been aggressively stacking BTC as part of its “Bitcoin-first” strategy. Over the past three months, it has put $40 million into Bitcoin and plans to increase that to $120 million using reserves, an ATM facility, and $19 million in crypto-backed loans from Arch Lending.
Genius is following the playbook of MicroStrategy, the largest corporate Bitcoin holder. Genius Group director Thomas Power believes that with Bitcoin-first strategy, the company will be “among the first NYSE American listed companies to fully embrace MicroStrategy’s Bitcoin strategy for the benefit of our shareholders.”
This article first appeared at crypto.news
