Genius Group is making waves with its bold new strategy, because the AI-driven education and business acceleration firm has decided to make Bitcoin its primary treasury reserve asset, just like MicroStrategy did.
One domino after another
In a press release, Genius Group announced plans to allocate at least 90% of its current and future reserves to Bitcoin.
With $150 million available for them, they’re looking to invest around $120 million into Bitcoin right off the bat, roughly 1,380 BTC at today’s prices.
“We believe that with our Bitcoin-first strategy, we will be among the first NYSE American listed companies to fully embrace MicroStrategy’s Bitcoin strategy for the benefit of our shareholders.”
Also, there is a tough time for Genius Group now, whose share price plummeted to under $0.60 amid allegations of market manipulation.
CEO Roger Hamilton mentioned that ongoing legal battles could lead to damages exceeding $250 million.
He believes that adopting transparent and decentralized blockchain technology could help realign the company’s market value with its actual assets, which include $43 million in total assets and $23 million in revenue reported for 2023.
Long term perspective
After the news broke, shares of the Singapore-based company jumped by as much as 50% in premarket trading, though they pulled back later in the day.
Still, they’re up over 61% in the past five days, currently sitting at around $0.95 per share.
Genius Group also plans to introduce Bitcoin as a global payment option on its EdTech platform.
Plus, they’re launching a new education series called “Web3 Wealth Renaissance,” designed to help students dive deeper into Bitcoin, cryptocurrency, and blockchain using AI-driven learning tools.
Hamilton emphasized that as an AI-focused educational firm, they are uniquely positioned to guide students and investors into a future where traditional finance meets decentralized economies.
Not so fringe anymore
By adopting Bitcoin as a reserve asset, Genius Group joins a growing list of public companies following in MicroStrategy’s footsteps.
Since 2020, MicroStrategy has been leading the charge with its Bitcoin strategy as a hedge against inflation and currently holds an impressive 279,420 BTC.
Other companies are also getting on board, for example, medical device maker Semler Scientific and Tokyo-based investment manager Metaplanet have each committed to holding over 1,000 BTC in reserves.
