In a significant shift towards cryptocurrency, AI firm Genius Group has announced its commitment to a ‘Bitcoin-first’ treasury strategy, which has caused its stock to soar by an impressive 66% in a single day. The company aims to allocate up to 90% of its reserves in Bitcoin, marking a decisive step in the integration of cryptocurrency into corporate finance.
On November 12, following a restructuring of its board to include seasoned executives from the crypto and Web3 sectors, Genius Group declared a major initiative to hold $120 million in Bitcoin. This bold move echoes the successful strategy of MicroStrategy, whose investments in Bitcoin have made headlines globally. The company plans to begin with an at-the-market offering of up to $150 million to secure its initial Bitcoin holdings.
As part of this new strategy, Genius Group intends to implement Bitcoin payments across its educational technology platform. Additionally, they are set to launch a Web3 education series that will educate students about Bitcoin and various other cryptocurrencies, emphasizing the company’s commitment to preparing future generations for technological advancements.
Director Thomas Power highlighted the rationale behind this strategy, stating, “The compelling case that we believe Michael Saylor and MicroStrategy have made for public companies to invest in Bitcoin as their primary treasury reserve asset is one that we fully endorse.” Genius Group is positioning itself as one of the first companies listed on the NYSE American to adopt such a model, aiming to maximize shareholder benefits through this strategic pivot.
The surge in Genius Group’s stock reflects a growing trend among corporations to embrace cryptocurrency as a primary reserve asset. Other companies, including Sembler Scientific and Metaplanet, have also started to add Bitcoin to their balance sheets, indicating a robust shift in corporate treasury management.
As we look to the future, one has to wonder: will more companies follow Genius Group’s lead? As educational initiatives expand and corporate strategies evolve, the role of Bitcoin in the financial landscape seems only to be gaining traction.
