Genius Group cites GENIUS Act as it doubles stash to 200 BTC
Genius Group, an AI-driven edtech firm based in Singapore, has doubled its Bitcoin treasury to 200 BTC, aiming for a total of 10,000 BTC. The company acquired 20 BTC on July 18 at an average price of $106,812, achieving a profit of $216,000. Genius Group plans to increase its holdings to 1,000 BTC by the end of 2025. The passage of the GENIUS Act in the U.S. is expected to accelerate its blockchain education initiatives. The firm intends to apply for a permitted payment stablecoin issuer license and a non-bank digital asset service provider license. Genius Academy will award students Genius Education Merits (GEMs), convertible into a stablecoin if the PPSI license is granted. The GENIUS Act establishes a licensing framework for stablecoin issuers and mandates one-to-one reserves. Ethereum is identified as the primary beneficiary of the GENIUS Act due to its role in stablecoin deployment.
