Genius Group Limited, an education and AI-focused company, announces today it has added $1.8 million more in Bitcoin to its treasury. The company’s holdings of total Bitcoin have increased to 172 BTC, involving a value of around $15.8 million.
Genius Group says that it averages a purchase price of $92,006 per Bitcoin. This expansion is consistent with the firm’s long history of putting reserves to work by allocating at least 90% of reserves to Bitcoin with an ultimate Treasury goal of $120 million.
As the new wave of innovation and financial strategy led by CEO Roger Hamilton’s Genius Group saw Bitcoin as a cornerstone of their, the crypto was described as ‘a store of value’ in the changing digital economy. Part of the company’s vision to achieve this will be by integrating blockchain technology into its AI-driven educational platforms, taking an approach that is Bitcoin first. It encompasses things like on-chain certifications and reward systems using Bitcoin’s lightning network.
Genius Group Leads Bitcoin Integration
Hamilton cited other publicly traded companies like MicroStrategy, whose CEOs have made Bitcoin a reserve asset, as he compared Genius Group’s strategy. With their continued storage of Bitcoin, it’s apparent the firm is rolling the dice on a long-term strategy of putting its faith in the currency given its capability to safeguard value as the world enters uncharted territory economically.
Genius Group’s action is indicative of a rising pattern of mounting traditional businesses to merge Bitcoin into their financial measures. The education firm joins an increasingly long list of companies, including MicroStrategy and Samara Asset Group, who have increasingly moved into Bitcoin to diversify holdings.
For example, Samara Asset Group announced recently they are gearing up for cryptocurrency investments. It’s cute how it has been driven home by Genius Group’s adoption of Bitcoin in industries such as education, where blockchain’s potential for transformation is being explored.
Genius Group is now moving to be a leader in Bitcoin in the education sector with its latest acquisition. By bringing Bitcoin into its treasury and technology ecosystem, it opens the door for other firms to test out the usage of cryptocurrency in business.
