CCT - Crypto Currency Tracker logo CCT - Crypto Currency Tracker logo
coinpedia 2025-01-10 15:10:18

Genius Group Expands Bitcoin Treasury with $5 Million Purchase

The post Genius Group Expands Bitcoin Treasury with $5 Million Purchase appeared first on Coinpedia Fintech News In a latest development, Genius Group Limited, an education company with a focus on AI and Bitcoin, has expanded its Bitcoin Treasury, purchasing an additional $5 million worth of Bitcoin. This acquisition increases the company’s total Bitcoin holdings to 372 units, valued at $35 million, at an average price of $94,047 per Bitcoin. Notably, this move is part of Genius Group’s Bitcoin-first strategy, which was first announced on November 12, aiming to invest 90% or more of its reserves in Bitcoin, targeting an initial amount of $120 million in the cryptocurrency. Remarkably, the company’s progress in building its Bitcoin Treasury has outpaced its own schedule, reaching 30% of its initial target ahead of time. As of Thursday, the market value of Genius Group’s Bitcoin holdings matched its purchase price, based on the current Bitcoin price of $94,000 per unit. The company’s market capitalization stood at $40.32 million, with a BTC/Price ratio of 83%.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.