Genius Group, the AI-powered education company listed on the NYSE, has expanded its Bitcoin treasury by 50% to reach $30 million worth of BTC holdings. The company announced on December 30 that it acquired an additional $10 million in Bitcoin at an average price of $93,919 per BTC, bringing its total holdings to 319.4 BTC.
This latest purchase comes just six weeks after Genius Group unveiled its "Bitcoin-first" strategy, which aims to allocate at least 90% of company reserves to Bitcoin. The firm has set an initial investment target of $120 million, of which it has now completed 25%.
"We have been buying Bitcoin consistently and are pleased to be ahead of our internal schedule to reach our initial target of 1,000 Bitcoin in our treasury," said Roger Hamilton, CEO of Genius Group.
The company began its Bitcoin accumulation on November 12 with an initial $10 million purchase, followed by acquiring 194 Bitcoin worth $18 million on December 9. As of December 29, Genius Group's average purchase price across all acquisitions stands at $95,060 per Bitcoin.
The aggressive Bitcoin acquisition strategy comes as other publicly traded companies, like MicroStrategy, continue to increase their cryptocurrency holdings. Genius Group, which had a market capitalization of $40.6 million as of December 27, reported impressive growth in its net asset value, which increased 177% to $54.6 million in the first half of 2024.
The company plans to provide more frequent updates on its Bitcoin treasury performance alongside its operating financials throughout 2025, demonstrating its commitment to transparency in its cryptocurrency strategy.