Genius Group increases its BTC holdings by 50% to $30m

by

As a seasoned investor with over two decades of experience under my belt, I find myself increasingly impressed by the bold moves being made by companies like Genius Group in the crypto space. Having witnessed the meteoric rise of Bitcoin and other digital assets, I can appreciate the strategic thinking behind Genius’s decision to allocate a significant portion of its reserves to BTC.

In my early days as an investor, I would have been skeptical about such a move due to the volatility associated with cryptocurrencies. However, with Bitcoin’s increasing acceptance as a store of value and its growing role in the financial world, it has become clear that ignoring this asset class could mean missing out on significant returns.

Genius Group’s “Bitcoin-first” strategy is particularly noteworthy because it demonstrates a long-term commitment to this digital asset. The fact that they have already hit their $30 million target within six weeks of announcing their strategy shows the power of consistent investment in Bitcoin, especially at current prices.

Moreover, Genius’s aggressive approach is reminiscent of my own early days as an investor, when I would take calculated risks to achieve outsized returns. It’s refreshing to see companies like Genius taking a similar approach in the crypto space, where the potential for exponential growth is still very much alive.

Lastly, I can’t help but chuckle at the irony of traditional stock market players like Genius Group diving headfirst into Bitcoin. Who would have thought that the New York Stock Exchange would one day be home to companies with a “Bitcoin Treasury Strategy”? It just goes to show that even old dogs can learn new tricks, and sometimes those tricks lead to big payoffs.

Genius Group has added to its bitcoin holdings with a significant purchase announced on Dec. 30.

The firm announced that it purchased more Bitcoin, totaling $10 million, increasing its Bitcoin holdings to approximately 319.4 Bitcoins, currently valued at around $30 million.

A brilliant individual made a purchase of Bitcoin when the average cost was approximately $93,919 per unit. This move was made in response to MicroStrategy’s announcement, which set off a recent wave of Bitcoin buying and increased their total holdings to an impressive 446,400 BTC.

As a researcher, I’ve found it noteworthy that Genius Group managed to accumulate approximately $30 million worth of Bitcoin within just six weeks after outlining their strategic approach towards Bitcoin.

A company that uses AI and is listed on the New York Stock Exchange started purchasing Bitcoin on November 12, acquiring around 10 million dollars’ worth of it. Since then, this company has regularly bought significant amounts of Bitcoin, with an additional 194 Bitcoins valued at approximately $18 million added on December 9. The average price per Bitcoin during these purchases was about $92,728.

Genius Group intends to adopt a “Bitcoin-focused” approach by investing at least 90% of its total reserves in Bitcoin. Their initial aim is to invest $120 million, with the company stating they’ve already invested 25% following their most recent purchase.

Genius Group chief executive officer Roger Hamilton said:

We’ve only been implementing our Bitcoin Treasury Plan for a little over two months now. So far, we’ve been regularly purchasing Bitcoin and are happy to announce that we’re progressing faster than expected towards our first goal of owning 1,000 Bitcoins in our reserves.

On December 29, the company made a purchase of 319.4 Bitcoins, with an average cost of about $95,060 per Bitcoin. As of December 27, 2024, Genius Group had a market capitalization of approximately $40.6 million, as its share price ended the day at $0.64.

Read More

2024-12-30 20:29