In a latest development, Genius Group Limited, an education company with a focus on AI and Bitcoin, has expanded its Bitcoin Treasury, purchasing an additional $5 million worth of Bitcoin. This acquisition increases the company’s total Bitcoin holdings to 372 units, valued at $35 million, at an average price of $94,047 per Bitcoin.
Notably, this move is part of Genius Group’s Bitcoin-first strategy, which was first announced on November 12, aiming to invest 90% or more of its reserves in Bitcoin, targeting an initial amount of $120 million in the cryptocurrency.
Remarkably, the company’s progress in building its Bitcoin Treasury has outpaced its own schedule, reaching 30% of its initial target ahead of time. As of Thursday, the market value of its Bitcoin holdings matched its purchase price, with a market cap of $40.32 million and a BTC/Price ratio of 83%. This highlights the company’s strong commitment to its Bitcoin-first strategy.
The company has increased its Bitcoin loan with crypto-backed loan platform Arch Lending from $10 million to $14 million, giving the Company a current loan-to-value ratio of 40%. Additionally, Genius Group has approved a Founder Compensation Plan for its CEO, Roger Hamilton. This plan includes targets to help the company achieve a $1 billion market cap within 10 years. The plan also includes specific milestones aimed at increasing the Bitcoin Treasury’s value to $1 billion in net asset value.
Stay ahead in the crypto game read Bitcoin price prediction insights and discover how adoption is shaping the future of finance!
Genius Group sees Bitcoin as a crucial part of its financial strategy, integrating it alongside AI in education. CEO Roger Hamilton highlights Bitcoin’s potential as a “store of value” in the digital economy, similar to other publicly traded companies adopting it as a reserve asset.
Justin Sun, a serial entrepreneur with a keen focus on blockchain technology and the web3…
Bitcoin (BTC) price has recorded a new all-time high (ATH) of about $112,000 on several…
Pump.fun, a top-tier memecoin launchpad on the Solana (SOL) network, has confirmed the schedule of…
XRP price has witnessed a sharp upward movement in recent sessions, driven primarily by a…
Hester M. Peirce, a commissioner of the United States Securities and Exchange Commission (SEC), has…
The tech-savvy crypto community is abuzz with talk of Ruvi AI (RUVI), a token that…
