AI Firm Genius Group Soars 66% After Announcing ‘Bitcoin-First’ Treasury Strategy

Artificial intelligence company Genius Group Limited saw its stock surge 66% in a single day after unveiling a bold "Bitcoin-first" strategy, making the cryptocurrency its primary treasury asset.

The company revealed plans to allocate 90% or more of its current and future reserves into Bitcoin (BTC), starting with a $150 million at-the-market (ATM) offering to acquire an initial $120 million in Bitcoin. The announcement sent Genius Group’s stock (GNS) up by 66.4%, closing at $1.05 on November 12. The stock continued to rise by 62.86% to $1.71 in after-hours trading, according to Google Finance.

In addition to shifting its treasury strategy, Genius Group will enable Bitcoin payments on its EdTech platform and launch a Web3 education series for students to learn about Bitcoin and other cryptocurrencies.

Backing MicroStrategy’s Model

Genius Group’s strategy is inspired by MicroStrategy, the business intelligence firm led by Michael Saylor, which has famously made Bitcoin its primary treasury reserve. Thomas Power, a director at Genius Group, expressed full support for MicroStrategy’s approach, stating:

Genius Group’s move reflects a broader trend of companies following in MicroStrategy’s footsteps, with other firms like Semler Scientific and Metaplanet also adopting Bitcoin as a treasury asset.

Company Background and Future Vision

Founded in 2002 and listed on the NYSE American in 2022, Genius Group is focused on AI-powered educational technology aimed at students across all levels, from primary and secondary education to tertiary and professional development. The company aims to equip students, entrepreneurs, businesses, and governments with the skills needed for the rapidly advancing technological landscape.

The shift toward Bitcoin comes after a board restructuring to include industry experts with deep experience in blockchain and Web3 technologies. Power emphasized that Genius Group sees Bitcoin as the primary store of value driving the future of exponential technologies.

Genius Group’s decision places it in line with MicroStrategy’s growing Bitcoin holdings, which now exceed 279,420 BTC, worth approximately $24.5 billion at the current Bitcoin price of around $88,000. With this move, Genius Group aims to not only enhance its balance sheet but also position itself as a forward-thinking company aligned with the digital currency revolution.