Vanessa
Genius Group Limited has revealed its new “Bitcoin-first” strategy, with plans to commit 90% or more of its reserves to Bitcoin as its primary treasury asset.
Following a recent Board restructuring to include blockchain and Web3 experts, the education-focused AI company said it will utilize a $150 million funding facility to begin purchasing $120 million in Bitcoin, positioning it as a core reserve holding.
Genius Group also plans to integrate Bitcoin payments on its Edtech platform and launch a Web3 Wealth Renaissance education series, aimed at preparing students for a decentralized, blockchain-driven economy. Director Thomas Power emphasized the firm’s belief in Bitcoin as a “primary store of value,” inspired by similar strategies at companies like MicroStrategy.
The Singapore-based company, which benefits from a 0% capital gains tax, views this shift as a long-term strategy to enhance its balance sheet and create shareholder value. Director Ian Putter highlighted the opportunity for future capital and earnings to support the Bitcoin-first approach, setting Genius Group apart on the NYSE American.
CEO Roger Hamilton stated that the strategy aligns with the company’s ongoing fight against market manipulation. Genius Group is pursuing litigation for alleged damages of over $250 million, which Hamilton believes has significantly impacted the company’s stock price. By fully embracing blockchain and Bitcoin, he hopes to realign Genius Group’s market value with its reported 2023 revenue of $23 million and total assets of $43 million.
Genius Group will discuss its new approach in depth at a GeniusLIVE podcast featuring Hamilton, Power, and Putter on Tuesday, November 19.
Read More
- Revolut Expands Crypto Exchange Access to 30 European Countries
- Japan’s Bitbank Launches Global Arm for Crypto, Blockchain Projects
- Shiba Inu Unleashes Fury: Breakout Potential Sparks Bullish Frenzy
Vanessa has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
