
Education company Genius Group Limited announced an increase in its Bitcoin (BTC) treasury to $35 million on Monday, as part of its ongoing strategy to amass $120 million in the primary cryptocurrency.
The latest purchase of $5 million in Bitcoin brings the company's total holdings to 372 BTC at an average acquisition price of $94,047 per coin.
"This purchase follows Genius Group's announcement of its ‘Bitcoin-first’ strategy in early November, a move that has seen the company's stock price (NYSE:GNS) soar over 1,100% since the strategy was unveiled," the press release noted.
The company's Bitcoin treasury is valued at $35 million as of Jan. 9, reflecting the current Bitcoin price of around $94,000. With Genius Group's market capitalization at $42 million, its BTC-to-price ratio stands at 83%.
To further grow its Bitcoin treasury, Genius Group has increased its loan with Arch Lending from $10 million to $14 million, maintaining a loan-to-value ratio of 40%.
The company is heavily leveraging crypto-backed loans to fund its reserves without selling Bitcoin, in line with its strategy of allocating 90% or more of its reserves to Bitcoin.
Genius Group, which integrates AI solutions into education, views Bitcoin as a key component of its financial strategy.
"We believe that Bitcoin is the future of finance and are excited to be able to add it to our balance sheet. This purchase is a key part of our strategy to become a leading Web3 company," said CEO Roger Hamilton.
The company's "Bitcoin-first" strategy also aligns with its broader plans to incorporate blockchain technology into its AI-powered educational platforms.
These plans include implementing on-chain certifications and reward systems using Bitcoin's Lightning Network.
부인 성명:info@kdj.com
제공된 정보는 거래 조언이 아닙니다. kdj.com은 이 기사에 제공된 정보를 기반으로 이루어진 투자에 대해 어떠한 책임도 지지 않습니다. 암호화폐는 변동성이 매우 높으므로 철저한 조사 후 신중하게 투자하는 것이 좋습니다!
본 웹사이트에 사용된 내용이 귀하의 저작권을 침해한다고 판단되는 경우, 즉시 당사(info@kdj.com)로 연락주시면 즉시 삭제하도록 하겠습니다.