AI Firm Genius Group Adopts Bitcoin as Primary Treasury Asset; Shares Spike 50%
Summary
Genius Group has adopted bitcoin as its primary treasury asset, allocating 90% of its reserves to bitcoin. The company plans to acquire $120 million worth of bitcoin, approximately 1,380 BTC, for long-term holding and will enable bitcoin payments on its Edtech platform. This decision follows a board restructuring to include experts in crypto and Web3 technologies. Genius Group's strategy mirrors that of MicroStrategy, which holds 279,420 BTC as a hedge against inflation. Other companies like Semler Scientific and Metaplanet have also adopted similar strategies, holding over 1,000 BTC each.
