The Singapore-based company shared further schemes to buy $120 million worth of bitcoin, making up to 1380 BTC at current rates.
AI firm Genius Group has announced its adoption of Bitcoin as the primary treasury asset, with plans to hold 90% of its present and future resources in BTC.
This transition comes as the company hires multiple people with portfolios in the crypto and Web 3 markets and expands its Edtech platform to include crypto education.
Moreover, being incorporated in Singapore, Genius Group enjoys 0% capital gains tax, which will allow the company to grow its Bitcoin stash without worrying about getting hit with capital gains taxes.
However, the company is also facing a two-year fight against market manipulators, which has battered Genius Group’s stock price and market cap.
Despite the company pulling in $23 million in revenue in 2023 and reporting assets of $43 million, its shares have sunk below $0.60, while the market cap dropped to $12 million.
This disparity is one of the key reasons Genius Group is embracing Bitcoin as a more transparent, decentralized alternative to traditional financial markets.
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