The latest $5 million purchase of bitcoin has boosted Genius Group’s “ bitcoin first” strategy with the company on track to reach its $120 million goal.
Genius Group’s Bitcoin Holdings Rise to 372 BTC With New $5 Million Purchase
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Genius Group Makes Progress With Goal to Hold $120 Million Worth of Bitcoin
Genius Group, an AI-based educational tech company announced that it has added to its bitcoin treasury with a $5 million purchase of bitcoin, increasing its total holdings to 372 BTC with an average price of $94,047 and an estimated value of $35 million.
Earlier in November, the company announced that it would commit 90% or more of its reserves to be held in bitcoin with an initial target of $120 million in bitcoin. The $35 million worth of BTC it currently holds has been completed within two months of the announcement of its “ bitcoin first” strategy.
Genius Group’s market cap currently stands at $42 million based on 66 million issued shares and a share price of $0.64 at market close on Jan. 9, 2025. This gives the educational tech company a bitcoin-to-price ratio of 83%.
Furthermore, the business has raised its bitcoin loans from $10 million to $14 million via the crypto-backed lending platform Arch Lending, bringing the loan-to-value ratio to 40%.
With its bold strategy to hold 90% of its reserves in bitcoin, Genius Group is following in the footsteps of other firms like Microstrategy, Semler Scientific, and Metaplanet with significant BTC holdings.
