AI Firm Genius Group Adopts Bitcoin-First Strategy With $120M Investment
Highlights
- Genius Group dedicates 90% of reserves to Bitcoin, buying 1,380 BTC with $120M ATM funds.
- Genius Group's board revamp focuses on blockchain; plans Bitcoin payments on EdTech platform.
- After adopting a Bitcoin-first strategy, Genius Group shares surge 10%, hitting $0.70.
Singapore-based education technology company Genius Group Limited (NYSE American: GNS) has implemented a bold “Bitcoin-first” strategy, allocating Bitcoin as its primary treasury reserve asset.
The decision, approved by the company’s restructured board, marks one of the most significant shifts by a listed AI firm towards cryptocurrency. Genius Group aims to dedicate 90% or more of its reserves to Bitcoin, reflecting a commitment to cryptocurrency as a long-term store of value.
Genius Group Adopts Bitcoin-First Strategy
As part of this strategy, Genius Group plans to utilize $120 million of its $150 million At-The-Market (ATM) funding facility to acquire Bitcoin. The company intends to hold this investment over the long term, with Bitcoin set to play a central role in its financial reserves.
At current prices, the purchase would amount to approximately 1,380 BTC, underscoring the company’s shift to a Bitcoin-centric reserve.
“We see Bitcoin as being the primary store of value that will power these exponential technologies,” said Thomas Power, a Genius Group Director with a background in blockchain. He added that the company’s approach aligns with the strategy pioneered by MicroStrategy, which has held large amounts of Bitcoin in its treasury since 2020.
Board Restructuring to Support Blockchain Initiatives
The adoption of the Bitcoin-first strategy follows a recent restructuring of Genius Group’s board to include experts in blockchain and Web3 technologies. New board members, including Power and Ian Putter, bring experience in blockchain regulation, compliance, and education.
Putter, formerly with Standard Bank and founder of the Blockchain Research Institute Africa, emphasized the strategic advantage of holding Bitcoin in Singapore, where there is a 0% capital gains tax on cryptocurrency.
The restructuring aligns with Genius Group’s vision to integrate blockchain and Web3 concepts into its business model. The company also announced plans to launch a Web3 Wealth Renaissance education series to help students understand Bitcoin, cryptocurrency, and blockchain technology, expanding its offerings in future-focused education.
Bitcoin Payments Coming to Genius Group’s Edtech Platform
In addition to Bitcoin holdings, Genius Group will enable Bitcoin payments on its education technology platform. This move aims to create a seamless experience for users familiar with cryptocurrency while positioning the company as a leader in digital finance adoption within the education sector. The decision could attract a broader audience, particularly among tech-savvy students interested in blockchain and decentralized finance.
CEO Roger Hamilton highlighted the company’s commitment to blockchain, viewing it as a tool to combat market manipulation and increase transparency. “We believe every step the company can take to embrace transparent, decentralized, blockchain-based technology is an opportunity to reset Genius Group’s share price,” Hamilton stated. The company is currently pursuing litigation against alleged market manipulators, claiming damages that could amount to $250 million.
Following the announcement, Genius Group’s shares saw a notable increase, initially spiking 50% in premarket trading before stabilizing at $0.70, a 10% gain from the previous day’s close. This stock movement reflects investor interest in the company’s new direction as Bitcoin price itself reaches new highs, trading around $86,000 after recently setting a record above $89,000.
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