As a seasoned researcher with a keen eye for trends in the financial and technological sectors, I find Genius Group’s Bitcoin-focused strategy intriguing. Having closely followed the trajectory of firms like MicroStrategy, it’s refreshing to see another company taking a bold step towards embracing digital gold as part of their treasury reserves.
As a dedicated researcher, I’m excited to share that my team and I at the Genius Group Limited, a forward-thinking organization specializing in education and artificial intelligence based in Singapore, have taken a strategic step towards our Bitcoin-centric vision. We’ve bolstered our investment by acquiring an additional $1.8 million worth of Bitcoin, further solidifying our commitment to this innovative digital currency.
Through this acquisition, the company now owns a total of 172 Bitcoins (BTC), equivalent to approximately $15.8 million. Each Bitcoin cost around $92,006 on average, as stated in the company’s press release. This purchase aligns with Genius Group’s earlier pledge to invest at least 90% of its reserves into Bitcoin, targeting an initial treasury value of $120 million.
The company that specializes in AI for education considers Bitcoin essential to its monetary planning. In the words of CEO Roger Hamilton, this stance mirrors other publicly-traded companies investing in Bitcoin as a form of financial reserve, recognizing its possible role as a valuable asset in the digital marketplace.
Genius Group’s focus on Bitcoin reflects its overall ambition to integrate blockchain technology within its AI-driven education systems. This vision encompasses the issuance of blockchain-verified credentials and incentive schemes that utilize Bitcoin’s Lightning Network.
Firms holding and buying Bitcoin
Genius Group’s approach to Bitcoin acquisition, similar to companies such as MicroStrategy, indicates a strategic decision to diversify their treasury reserves with Bitcoin during economic changes. This method emphasizes swiftness and regularity in Bitcoin purchases, demonstrating a long-term investment strategy rather than being swayed by market fluctuations.
According to recent reports, this development aligns with the growing practice of conventional financial entities integrating Bitcoin into their operational approaches. Specifically, on October 14th, Samara Asset Group declared intentions to purchase more shares in investment funds that focus on non-traditional assets and expand its total portfolio.
The company’s decision to adopt Bitcoin highlights the increasing tendency of conventional businesses to incorporate cryptocurrency within their financial plans. Through its recent acquisition, Genius Group further solidifies its role as a pioneer promoting Bitcoin adoption in education, which may spur other organizations to consider similar treasury approaches.
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2024-12-02 17:54