Genius Group has so far announced to allot around 90% of its reserve to Bitcoin with a target of allocating $120 to an initial treasury.
The Bitcoin-first strategy of Genius Group has further plans to amalgamate blockchain technology into its educational platform which is mostly AI-backed.
The acquisition has allowed the Genius Group to secure its position as a leading advocate for Bitcoin adoption specifically in the education sector.
Genius Group Limited, a platform focused on providing entrepreneurship education for students and adults in Singapore has now taken its Bitcoin-focused strategy to the next level by adding $1.8 million worth of Bitcoin to the Treasury.
After this acquisition, the total holdings of the company now stand at 172 Bitcoin, and the overall value of this holding is estimated to be $15.8 million. The value of Bitcoin when it was purchased was $92,006 for one Bitcoin. The publication of the acquisition was done through a press release released by the company.
Genius Group has so far announced to allot around 90% of its reserve to Bitcoin with a target of allocating $120 to an initial treasury.
A strong pillar of the financial strategy
The group sees Bitcoin as a strong pillar of the company’s financial strategy. The chief executive officer of the firm, Roger Hamilton has compared the approach of the company with other publicly traded firms who have so far adopted Bitcoin as a form of reserve asset. He has also quoted the potential of Bitcoin as a store of value in the digital world.
The Bitcoin-first strategy of Genius Group has further plans to amalgamate blockchain technology into its educational platform which is mostly AI-backed. The plans also include on-chain certification with reward systems using the Lightning Network of Bitcoin.
The step taken by this firm follows the path of many publicly traded firms such as Microstrategy, which has accepted Bitcoin over its platform to expand treasury holdings in the middle of a macroeconomic shift.
The Bitcoin strategy and consistent acquisition by the firm show that it has long-term plans to hold Bitcoin and it is not driven by the recent surge of the asset due to several reasons involved.
One of the biggest reasons involved in this is considered to be the win of the newly elected president, Donald Trump.
Increasing trend of adding cryptocurrency
Not only this, but many traditional financial institutions are introducing Bitcoin as a financial strategy to their platform. Last month, Samara Asset Group, a publicly traded asset management platform, announced that it has plans to hold additional stakes in alternative investment funds to boost its holdings.
The Bitcoin adoption by several firms throws light on the increasing trend of traditional firms to introduce cryptocurrencies into their financial strategy.
The above-mentioned acquisition has allowed the Genius Group to secure its position as a leading advocate for Bitcoin adoption specifically in the education sector. This move will help inspire other firms to spread their wings and follow a similar treasury strategy.
