Genius Group Bolsters Bitcoin Holdings with $10 Million Purchase

Genius Group, a publicly-traded company listed on the New York Stock Exchange, has made a significant addition to its Bitcoin holdings. On December 30, the company announced the acquisition of additional Bitcoin worth $10 million, bringing its total BTC treasury to 319.4 BTC, valued at $30 million.

The purchase was made at an average price of $93,919 per BTC. This move comes as MicroStrategy leads the latest BTC buying spree, with its total holdings reaching 446,400 BTC.

Genius Group’s Bitcoin Strategy

Genius Group has achieved its $30 million BTC haul within six weeks of announcing its Bitcoin strategy. The company began its buying spree on November 12, purchasing BTC worth $10 million. Since then, Genius has consistently acquired chunks of the flagship digital asset, including 194 BTC worth $18 million on December 9, at an average purchase price of $92,728 per BTC.

Genius Group’s “Bitcoin-first” strategy aims to allocate at least 90% of its reserves in Bitcoin. The initial investment target is set at $120 million, with the company currently 25% into this goal after the latest purchase.

“It has been less than two months since we launched our Bitcoin Treasury Strategy. We have been buying Bitcoin consistently and are pleased to be ahead of our internal schedule to reach our initial target of 1,000 BTC in our treasury.” – Roger Hamilton, Genius Group CEO

As of December 29, the company’s acquisition of 319.4 BTC has come at an average purchase price of $95,060 per BTC. Genius Group’s market cap stands at $40.6 million, with its share price closing at $0.64 on December 27, 2024.

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