Genius Group Chooses Bitcoin as Primary Treasury Asset

Genius Group, a Singapore-based AI startup, has made headlines by adopting Bitcoin (BTC) as its main treasury asset. Following the strategy pioneered by MicroStrategy, the company announced plans to purchase $120 million worth of Bitcoin and hold 90% of its current and future treasury in the cryptocurrency.

Significant Purchase and Market Reaction

This decision led to a 50% surge in Genius Group's GNS shares during pre-market trading. Although prices fluctuated, they remained above previous closing levels, reflecting investor optimism about the company's Bitcoin-first strategy.

Institutional Adoption of Bitcoin

Genius Group joins other institutional players like Metaplanet and Semler Scientific in adopting a Bitcoin accumulation strategy. These firms, inspired by MicroStrategy's model, have also committed to holding substantial amounts of Bitcoin, with each holding over 1,000 BTC.

Leadership Changes and Strategic Focus

The announcement follows a recent reshuffle in Genius Group's leadership, bringing in board members with expertise in cryptocurrency and blockchain technology. This shift indicates the company's commitment to enhancing its focus on web3 and digital assets.

Statements from Leadership

Thomas Power, a director at Genius Group, expressed confidence in their Bitcoin strategy, stating that they aim to be among the first NYSE American listed companies to fully embrace this approach for the benefit of their shareholders.