Genius Group Expands Bitcoin Treasury with $5 Million Purchase
The latest development of Genius Group Limited, an education company focusing on artificial intelligence and Bitcoin, is that expand Its Bitcoin Treasury purchased an additional $5 million worth of Bitcoin. The acquisition increases the company’s total Bitcoin holdings to 372 units worth $35 million at an average price of $94,047 per Bitcoin.
Notably, the move is part of Genius Group’s Bitcoin-first strategy, first announced on November 12, which aims to invest 90% or more of its reserves in Bitcoin, with an initial target of $120 million.
Notably, the company is progressing beyond its own plans in building its Bitcoin vault, reaching 30% of its original goal ahead of schedule. As of Thursday, the market value of its Bitcoin holdings matched its purchase price, with a market value of $40.32 million and a Bitcoin/price ratio of 83%. This highlights the company’s strong commitment to its Bitcoin-first strategy.
The company has increased Bitcoin loans on cryptocurrency-backed lending platform Arch Lending from $10 million to $14 million, bringing the company’s current loan-to-value ratio to 40%. Additionally, Genius Group approved a founder’s compensation plan for CEO Roger Hamilton. The plan includes helping the company achieve a market value of $1 billion within 10 years. The plan also includes specific milestones aimed at increasing the net asset value of Bitcoin Vault to $1 billion.
