ChainCatcher news, the publicly listed company Genius Group Limited (NYSE: GNS) today announced it has purchased 110 bitcoins for $10 million, at an average price of $90,932 per bitcoin. This purchase marks the company's formal 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 its existing and future reserves in 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.