AI Firm Genius Group Adopts Bitcoin-First Strategy With $120M Investment

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As an experienced investor based in Singapore with a keen interest in both education technology and cryptocurrency, I find Genius Group’s decision to adopt a Bitcoin-first strategy truly intriguing. Having witnessed the surge of MicroStrategy’s success with their Bitcoin treasury reserves, it’s refreshing to see another listed AI firm following suit.

As an analyst, I find myself analyzing the strategic move made by Genius Group Limited, a forward-thinking education technology firm based in Singapore. This company has taken a daring approach by adopting a “Bitcoin-centric” strategy for their treasury reserves, opting to hold Bitcoin as their primary reserve asset.

The newly reformed board’s endorsement signifies a major crypto-focused transition for the publicly traded AI company, Genius Group. The firm intends to allocate 90% or more of its funds into Bitcoin, demonstrating a strong belief in cryptocurrency as a reliable long-term investment asset.

Genius Group Adopts Bitcoin-First Strategy

According to their strategy, Genius Group aims to employ $120 million from its available $150 million At-The-Market (ATM) financing facility for purchasing Bitcoin. The company has plans to keep this investment for the long term, with Bitcoin being a key component in their financial reserves.

At current prices, the purchase would amount to approximately 1,380 BTC, underscoring the company’s shift to a Bitcoin-centric reserve.

In simple terms, Thomas Power, a Genius Group director experienced in blockchain technology, stated that they view Bitcoin as the fundamental value holder driving future technologies forward. Additionally, he mentioned that their business strategy mirrors MicroStrategy’s approach, which has been holding substantial amounts of Bitcoin since 2020 within its corporate reserves.

Board Restructuring to Support Blockchain Initiatives

Genius Group has implemented a Bitcoin-centric approach after undergoing a board reshuffle that added specialists in blockchain and Web3 technology. The new additions to the board, such as Power and Ian Putter, offer expertise in areas like blockchain governance, conformity, and pedagogy.

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.

Restructuring aligns with Genius Group’s ambition to incorporate blockchain and Web3 principles into their business strategy. Furthermore, they have unveiled intentions to initiate a Web3 Wealth Renaissance educational program, aimed at enlightening students about Bitcoin, cryptocurrencies, and blockchain technology, thereby broadening their scope in forward-thinking education.

Bitcoin Payments Coming to Genius Group’s Edtech Platform

As a researcher, I’m excited to announce that in addition to our Bitcoin holdings, we are expanding our services to include Bitcoin payments on our education technology platform. This strategic move is designed to provide a smooth, cryptocurrency-friendly experience for our users while establishing Genius Group as a pioneer in digital finance within the education sector. By embracing blockchain and decentralized finance, we hope to capture the interest of tech-savvy students who are passionate about these emerging technologies.

CEO Roger Hamilton emphasized the firm’s dedication towards blockchain technology, regarding it as a means to combat market deceit and promote transparency. In his words, “We see each move the company makes to adopt open, distributed, and blockchain-driven tech as a chance to reevaluate Genius Group’s stock price.” Hamilton further stated that the firm is engaged in legal battles against suspected manipulators, potentially seeking compensation of up to $250 million.

After the announcement, there was a significant rise in Genius Group’s share prices. At first, they surged by 50% during pre-market trading, then settled at $0.70, representing a 10% increase from the previous day’s closing price. This stock surge suggests investors are intrigued by the company’s new strategy, as the price of Bitcoin itself has soared to fresh highs, trading around $86,000 following its record-breaking rise above $89,000.

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2024-11-12 20:35