Originally published on: November 13, 2024
Genius Group Limited, an artificial intelligence company, experienced a remarkable 66% surge in a single day following its announcement of a pioneering “Bitcoin-first” treasury strategy. This strategic shift signifies a bold move for the company, as it plans to make Bitcoin its primary treasury asset.
In a groundbreaking move, Genius Group has committed to allocating 90% or more of its current and future reserves to be held in Bitcoin. This decision includes launching a $150 million at-the-market offering to acquire an initial $120 million in Bitcoin, illustrating the company’s confidence in the cryptocurrency’s future potential.
Moreover, the company also revealed plans to enable Bitcoin payments for its educational technology platform, known as “EdTech,” and introduce a Web3 education series. These initiatives aim to educate students about Bitcoin and other cryptocurrencies, further cementing Genius Group’s commitment to embracing cutting-edge technologies.
Following this announcement, Genius Group shares closed at $1.05 on November 12, marking a significant increase of 66.4%. The positive momentum continued in after-hours trading, with shares rising to $1.71, according to Google Finance data.
Thomas Power, a director at Genius Group, expressed enthusiasm for the company’s strategic shift, citing MicroStrategy CEO Michael Saylor’s advocacy for public companies to invest in Bitcoin as their primary treasury reserve asset. Power highlighted the alignment between Genius Group’s vision and Saylor’s compelling argument for Bitcoin adoption.
Founded in 2002 and listed on the NYSE American in 2022, Genius Group has established itself as a prominent player in the AI-powered educational technology sector. The company’s commitment to integrating blockchain and Web3 expertise into its board reflects its forward-thinking approach to technology and innovation.
By mirroring MicroStrategy’s successful Bitcoin treasury model, Genius Group aims to position itself at the forefront of corporate adoption of cryptocurrencies. With Bitcoin holdings surging to over $24.5 billion for MicroStrategy, the potential for growth and stability in this asset class is increasingly evident.
As more companies, such as Semler Scientific and Metaplanet, embrace Bitcoin as a treasury reserve asset, the trend towards integrating cryptocurrencies into corporate strategies continues to gain momentum. Genius Group’s strategic pivot underscores the transformative impact of digital assets on traditional business models.
In the fast-evolving landscape of blockchain and crypto, companies like Genius Group are leading the way in leveraging innovative technologies to drive growth and create value. Stay informed on the latest trends and developments in the industry by subscribing to our Crypto Biz newsletter for weekly updates on key business insights and financial opportunities. Unlock the future of finance with cutting-edge analysis and expert perspectives delivered straight to your inbox every Thursday. Join us on this exciting journey towards a new era of digital finance.
