Genius Group Limited has announced the increase of its bitcoin holdings to 440 BTC, investing a total of $42 million at an average price of $95,519 per bitcoin.
Education technology company Genius Group has disclosed that its bitcoin (BTC) holdings are now worth more than the company’s market capitalization following an additional purchase of $2 million in BTC.
Genius Group now holds 440 BTC, having purchased a total of 440 bitcoin at an average price of $95,519 per BTC, for an aggregate investment of $42 million, the company announced Monday.
With a market capitalization of $33.1 million and a share price of $0.48 on Monday, Genius Group’s BTC/price ratio is roughly 139%. This means that the company now holds more value in bitcoin than its market capitalization.
The company’s latest purchase follows an earlier acquisition of $5 million in bitcoin on Jan. 10, as the company continues to work toward its goal of allocating $120 million to apex cryptocurrency.
According to the company’s statement, the recent purchase brings Genius Group to 38% of its intended target for bitcoin holdings. The education technology company, which boasts 5.4 million users in over 100 countries, integrates AI-powered education solutions with its bitcoin-centric treasury management.
This approach aligns with the growing trend of corporations adopting bitcoin as a treasury asset, given its strong performance and inflation hedge qualities.
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