Genius Group Adopts Bitcoin-First Strategy, Allocating 90% of Reserves to BTC and Investing $120M in EdTech Expansion
Highlights:
- Genius Group commits 90% of its reserves to Bitcoin, purchasing 1,380 BTC with $120M in ATM funding.
- A board restructuring emphasizes blockchain initiatives; plans to integrate Bitcoin payments into its EdTech platform.
- Following this strategic shift, Genius Group’s shares rose 10%, reaching $0.70.
Genius Group Limited, a Singapore-based education technology company, has made a transformative move by adopting a “Bitcoin-first” strategy, positioning Bitcoin as its main treasury asset. Approved by a newly restructured board, this initiative reflects the company’s commitment to Bitcoin as a primary store of value, similar to the strategy used by MicroStrategy.
Key Investment and Treasury Shift
As part of this approach, Genius Group plans to allocate $120 million from its $150 million At-The-Market (ATM) funding to Bitcoin, translating to approximately 1,380 BTC at current market prices. This long-term investment signals a significant shift towards a Bitcoin-centered reserve strategy.
Board member Thomas Power emphasized that Bitcoin’s role as a primary asset aligns with the company’s focus on exponential technologies. The board now includes blockchain and Web3 experts, including Ian Putter, who noted the tax advantage of holding Bitcoin in Singapore, where there is no capital gains tax on crypto.
Blockchain and Web3 Integration in Education
The board restructure supports Genius Group’s vision to blend blockchain with its educational services. The company plans to introduce a Web3 Wealth Renaissance education series to familiarize students with Bitcoin, blockchain, and decentralized finance concepts.
Additionally, Genius Group is set to enable Bitcoin payments on its platform, aiming to enhance the user experience for those familiar with digital assets and position itself at the forefront of finance adoption in education.
CEO Roger Hamilton highlighted that embracing blockchain is a move toward transparency and a tool to counter market manipulation. He believes these steps could improve Genius Group’s share valuation. The company is currently engaged in a lawsuit seeking $250 million in damages from alleged market manipulation.
Following the announcement, Genius Group’s shares jumped 50% in premarket trading, later stabilizing at a 10% gain, reflecting investor interest in its new Bitcoin-focused strategy. Meanwhile, Bitcoin itself remains strong, recently trading at $86,000 after hitting a high above $89,000.
