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AI Firm Genius Group Adopts Bitcoin as Primary Treasury Asset; Shares Spike 50%

Artificial intelligence company Genius Group has announced that it will hold 90% of its current and future reserves in bitcoin. The Singapore-based company plans to acquire an initial $120 million worth of bitcoin and enable bitcoin payments for its Edtech platform. The decision to adopt bitcoin as its primary treasury asset comes after a board-level restructuring that included individuals with backgrounds in cryptocurrency and Web3 technologies. Genius Group follows in the footsteps of companies like MicroStrategy and Semler Scientific, which have also embraced bitcoin as a hedge against inflation. The company's shares rose by as much as 50% in premarket trading before settling at a 10% increase from the previous close.

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