BlockBeats news, on November 19, listed company Genius Group Limited (NYSE: GNS) today announced that it has purchased 110 bitcoins for $10 million, at an average price of $90,932 per bitcoin. This purchase marks the company's official establishment of a bitcoin reserve.
It is reported that this purchase follows the company's announcement of a 'bitcoin-first' strategy on November 12, which commits to holding 90% or more of existing and future reserves in the form of bitcoin, with an initial target of $120 million in bitcoin. Today's purchase is the first in a series of ongoing purchases the company intends to make to achieve its goal.
