According to Odaily, artificial intelligence company Genius Group (NYSE American: GNS) has announced an additional investment of $2 million in Bitcoin, bringing its total holdings to 214 BTC, valued at $20 million. The average purchase price for the Bitcoin is reported to be $93,586 per coin. This move follows the company's announcement of its 'Bitcoin First' strategy on November 12, which aims to prioritize Bitcoin in its financial reserves.
Within a month of unveiling this strategy, Genius Group has committed to holding 90% or more of its current and future reserves in Bitcoin. The company has set an initial target of acquiring $120 million worth of Bitcoin. This strategic shift underscores the growing trend among companies to adopt Bitcoin as a significant component of their financial strategies, reflecting confidence in the cryptocurrency's long-term value and potential as a hedge against traditional financial systems.
