Outside Source
Genius Group Limited, an education and AI firm based in Singapore, has expanded its Bitcoin-focused strategy by acquiring an additional $1.8 million worth of Bitcoin.
This acquisition brings the company’s total holdings to 172 Bitcoin (BTC), valued at $15.8 million, with an average purchase price of $92,006 per Bitcoin, according to a company press release. The move follows Genius Group’s earlier commitment to allocate at least 90% of its reserves to Bitcoin, aiming for an initial treasury target of $120 million.
The firm, which integrates AI solutions into education, views Bitcoin as a cornerstone of its financial strategy. CEO Roger Hamilton has likened the company’s approach to other publicly traded firms 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 incorporate blockchain into its AI-powered educational platforms. These plans include on-chain certifications and rewards systems leveraging Bitcoin’s Lightning Network.
Firms holding and buying Bitcoin
This move mirrors trends among firms like MicroStrategy, which have embraced Bitcoin to diversify treasury holdings amid macroeconomic shifts. Genius Group’s emphasis on speed and consistency in its Bitcoin acquisitions reflects a long-term strategy rather than reacting to market volatility.
This news is in line with the trend of traditional financial institutions incorporating Bitcoin into their business strategies. On October 14, Samara Asset Group announced its plans to acquire additional stakes in alternative investment funds and to increase its overall holdings.
The firm’s Bitcoin adoption underscores the growing trend of traditional enterprises incorporating cryptocurrency into their financial strategies. With its latest acquisition, Genius Group strengthens its position as a leading advocate for Bitcoin adoption in the education sector, potentially inspiring other companies to explore similar treasury strategies.
This article first appeared at crypto.news
