Genius Group Joins Bitcoin Treasury Race with $10M BTC Purchase

Artificial intelligence company Genius Group has entered the Bitcoin treasury game, purchasing 110 Bitcoin for $10 million as part of its broader plan to allocate 90% or more of its reserves to the leading cryptocurrency. The firm is also launching an educational podcast to help other companies considering Bitcoin as a treasury asset.

A Bold Move into Bitcoin

In a Nov. 18 statement, Genius Group revealed that it acquired Bitcoin at an average price of $90,932. The purchase marks the first step in its ongoing acquisition strategy, with an initial target of $120 million in Bitcoin holdings.

CEO Roger Hamilton shared that the company’s inspiration came from MicroStrategy’s Bitcoin treasury strategy but noted a lack of guidance for firms attempting similar transitions. To address this, Genius Group is launching a podcast on Nov. 19 to provide insights and guidance for other organizations.

“When Genius Group decided to adopt MicroStrategy’s Bitcoin treasury plan, there was no clear guidelines available for companies to easily follow,” Hamilton explained.

Market Reaction

The announcement has bolstered Genius Group’s (GNS) stock, which closed on Nov. 18 with a 22% monthly gain at $0.91, according to Google Finance data. However, the stock remains far below its June 2022 all-time high of $96.80.

Bitcoin Adoption Accelerates Across Firms

Genius Group is the latest in a growing list of companies adopting Bitcoin as a reserve asset. Industry leader MicroStrategy recently purchased 51,780 Bitcoin for $4.6 billion, bringing its total holdings to 331,200 BTC. The firm also announced plans to raise $1.75 billion through 0% interest senior convertible notes to fund additional Bitcoin acquisitions.

Other companies are also increasing their Bitcoin reserves:

• Semler Scientific: Acquired 215 Bitcoin for $17.7 million in cash between Nov. 6 and Nov. 15, bringing its total holdings to 1,273 BTC.

• Metaplanet: A Japanese investment firm, currently holding over 1,000 BTC, plans to issue one-year bonds worth $11.3 million (1.75 billion yen) to fund further purchases.

• MARA Holdings Inc. (formerly Marathon Digital): Announced a $700 million offering of convertible senior notes, allocating up to $200 million to repurchase existing debt and the rest for Bitcoin acquisitions and expansion.

The Bitcoin Price Surge

Bitcoin’s price remains strong at $91,308, just 2% below its all-time high of $93,477 reached on Nov. 13, according to CoinGecko data.

As institutional adoption accelerates, Bitcoin continues to solidify its position as a strategic asset for corporate treasuries. Genius Group’s move underscores a growing trend among companies leveraging Bitcoin as a hedge and growth tool in a volatile financial landscape.