On December 30, 2024, education tech company Genius Group Ltd purchased $10 million worth of Bitcoin, increasing its Bitcoin holdings by 50%. The company aims to convert 90% of its funds to BTC and believes in the long-term potential of Bitcoin. This move resulted in an 11% surge in Genius Group's stock price. The company follows a Bitcoin-first approach and believes that the Bitcoin Standard will benefit both the company and its shareholders. Genius Group is not alone in purchasing Bitcoin, as more companies around the world are choosing Bitcoin as their primary asset in corporate treasuries. This trend has been fueled by the growth of the crypto market and pro-crypto narratives. Companies like MicroStrategy and Marathon Digital Holdings have been leaders in acquiring large amounts of Bitcoin. However, not all companies are embracing Bitcoin, as some prefer to stay away from the volatile asset. Bitcoin reserves can serve as a hedge against inflation, enhance a company's image, and potentially boost its budget during a bull market. However, experts warn about the feasibility of investing a significant portion of a company's assets in Bitcoin due to potential market trend reversals.



Other News from Today