Genius Group follows MicroStrategy’s Bitcoin Strategy
The Singapore-headquartered artificial intelligence company Genius Group stepped into the financial world and named Bitcoin as its major treasury asset, following in the shoes of MicroStrategy and its Bitcoin-centric approach. The listed company revealed it would invest most of its treasury reserves in Bitcoin by making an immediate buy worth $120 million of the largest cryptocurrency. This reflects an emerging trend of institutional adoption, as Genius Group plans to keep 90% of its treasury value in Bitcoin going forward.
Key Investment of $120 Million in Bitcoin
In the first step, Genius Group is acquiring 1,380 Bitcoin tokens, a further nod to its Bitcoin-focused treasury strategy. The news sent Genius Group stock rocketing: GNS shares jumped as much as 50% during pre-market trading, reflecting investor interest in this bet. Though the GNS prices ceded some of their gains during regular trading, the stock finished out the day well above the prior close-a function of how investors are still fascinated by the company’s Bitcoin-forward plan.
Investing such a large portion of its treasury in Bitcoin underlines the confidence of the company in the digital asset for value storage and hedging against inflation. By aligning with one of the most decentralized and scarcest cryptocurrencies, Genius Group seeks long-term protection and growth of its treasury, with potential benefits to shareholders as the value of Bitcoin appreciates.
Institutional Bitcoin Adoption Keeps Pace
Genius Group joins the lengthening list of companies that have taken their first steps into a Bitcoin-heavy treasury strategy-a path first pioneered by the software company of Michael Saylor, MicroStrategy. Tokyo-based Metaplanet and medical technology provider Semler Scientific have joined Genius Group in its similar strategy inspired by MicroStrategy’s successful run of racking up the digital asset Bitcoin. Each of these firms has more than 1,000 BTC in their reserves but way behind the huge 279,420 BTC by MicroStrategy, which, at recent highs, values their holding at over $24 billion.
Strategic Shift Hails Leadership, Vision
Genius Group Treasury Focusing on Bitcoin Treasury strategy comes hot on the heels of changes within the company’s leadership. Until recently, the addition of board members with blockchain expertise signaled a deeper commitment from the company to blockchain technology and the Web3 space. This strategic shift would put Genius Group among the leading publicly traded companies that apply Bitcoin-oriented treasury management. Genius Group Director Thomas Power told Cointelegraph: “In our view, such a Bitcoin-first strategy will make Genius Group one of the very first NYSE American-listed companies in the world to adopt this approach – and perhaps form a case study for other companies to consider Bitcoin adoption.
