CandleFocus AI Firm Genius Group Adopts Bitcoin as Primary Treasury Reserve Asset
2024-11-17
Author: Content Editor
Genius Group Limited, an AI-driven education and business acceleration firm, has announced a new "Bitcoin-first" strategy, making Bitcoin its primary treasury reserve asset. The company plans to allocate at least 90% of its current and future reserves to Bitcoin and intends to make an initial long-term investment of $120 million in Bitcoin. The move comes amid a challenging period for Genius Group, marked by a significant drop in its share price and ongoing litigation against alleged market manipulators. The adoption of Bitcoin as a reserve asset aims to align the company's market value with its underlying assets. The company's shares surged by as much as 50% in premarket trading on Monday. Genius Group also plans to introduce Bitcoin as a global payment option on its EdTech platform and launch an education series on Bitcoin, cryptocurrency, and blockchain.
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