Genius Group Boosts Bitcoin Treasure
Genius Group, a leading AI-powered corporation, has made a remarkable addition to its Bitcoin portfolio. The acquisition was confirmed on December 30, increasing the company’s treasure trove of Bitcoin significantly.
With this $10 million acquisition, Genius Group has elevated its Bitcoin holdings to a substantial sum of 319.4 BTC. This takes the aggregate Bitcoin asset value of the company to an impressive $30 million. It is a significant development in the company’s strategy and marks its commitment to embracing cryptocurrency as a valuable asset.
Purchase Details
The latest stash of Bitcoins was bought at an average price of $93,919 per unit. The announcement from Genius Group coincides with the latest Bitcoin buying trends led by MicroStrategy, whose total Bitcoin holdings now stand at a staggering 446,400 BTC.
This investment is a testament to the Group’s belief in the future of digital currency and its potential for offering significant returns. It also shows the growing confidence among institutional investors in the value and future of Bitcoin in this rapidly evolving digital era.
A $30 Million Milestone in Short Order
Genius Group achieved this significant milestone in a short span of six weeks since announcing its Bitcoin strategy. The company started its aggressive buying streak on November 12, securing Bitcoin worth $10 million. Since then, the company has persistently seized a substantial portion of the flagship digital asset.
On December 9, the firm boosted its holdings by an impressive 194 Bitcoins, worth $18 million. The average buying price during that purchase was slightly lower, hovering around $92,728 per Bitcoin. It demonstrated the company’s strategic planning and due diligence in optimizing its capital allocation in cyptocurrency investments.
A Strategy Steeped in Bitcoin
The Genius Group’s strategy has a clear focus on Bitcoin. The group aims to allocate at least 90% of its reserves to the benchmark cryptocurrency. The initial financial target for investments is set at $120 million. As of the latest purchase, the company declared that it has reached 25% of its initial investment target.
CEO’s Declaration
Expressing his satisfaction over the achievement, Genius Group CEO Roger Hamilton stated, “It has been under two months since we launched our Bitcoin Treasury Strategy. We have been consistently investing in Bitcoin and are happy to be ahead of our internal schedule to reach our initial target of 1,000 Bitcoin in our treasury.”
Company’s Market Cap and Outlook
By December 29, the corporation’s asset acquisition of 319.4 Bitcoin was accomplished at an average buy-in cost of $95,060 per Bitcoin. As of December 27, 2024, Genius Group’s market capitalization stood at $40.6 million, and its share price closed at $0.64. This information highlights the corporation’s strong presence in the market and its confidence in its strategic investment plan.