Genius Group Bitcoin Investment Raised Another $2.2 Million
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Key Points: Genius Group Bitcoin investment has been increased by $2.2 million, bringing its total to 191 Bitcoins valued at $18 million. Genius Group committed to holding 90% or more of its reserves in Bitcoin, targeting an initial $120 million in Bitcoin assets. Artificial intelligence company Genius Group has significantly increased its Bitcoin reserves, adding another $2.2 million worth of the cryptocurrency. Read more: MicroStrategy Bitcoin Investment Yields Over 38% in November Genius Group Bitcoin Investment Raised Another $2.2 Million The latest Genius Group Bitcoin investment brings the company’s total holdings to 191 coins, worth around $18 million. The average purchase price for each Bitcoin is $92,728. The move is in line with the company’s “Bitcoin-first” strategy that was announced on November 12 and will see it retain at least 90% of the current and future reserves in Bitcoin. The strategy aims to set up an initial reserve value of $120 million in digital currency. Following an initial $10 million Bitcoin buy in early November, Genius Group has been slowly adding to its positions – acquiring an average of $2 million per week over the last month. Genius Group Expands Bitcoin Education Network Aside from the educational strategic moves such as the Genius Group Bitcoin investment, acquiring XD Academy, a learning platform on Bitcoin and blockchain, is also a strategic initiative. The platform would present courses from industry experts to enhance the presence of Genius Group on a global stage. The company also offers education programs to impart strategies to other businesses to adopt similar concepts in Bitcoin and blockchain. This aligns with a broader trend seen among early Bitcoin adopters like MicroStrategy, which has set a precedent for holding Bitcoin as a reserve asset. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute…
Filed under: News - @ December 9, 2024 7:21 pm