Genius Group now adopts a new Bitcoin reserve strategy, allowing the crypto to be the primary treasury reserve asset for the AI-powered educational company.
This decision follows a recent restructuring of the Board to incorporate specialists in Blockchain and Web3 technologies.
The newly approved Bitcoin-first strategy includes several key initiatives:
- Reserve Commitment: The company plans to allocate 90% or more of its current and future reserves to Bitcoin.
- Acquisition Goals: Genius Group will utilize its $150 million ATM funding facility to purchase an initial target of $120 million in Bitcoin, which will be held long-term as its main treasury asset.
- Educational Initiatives: The company will launch a Web3 Wealth Renaissance education series aimed at enhancing students’ knowledge of Bitcoin, cryptocurrency, and blockchain through AI-powered guidance.
- Global Payments: The Edtech platform will enable Bitcoin payments on a global scale.
Thomas Power, a Director at Genius Group and former Board Director at Team Blockchain, emphasized the company’s commitment to preparing students for future technologies.
He stated, “We view Bitcoin as the primary store of value that will drive these exponential technologies.
We fully support the compelling argument made by Michael Saylor and Microstrategy for public companies to invest in Bitcoin as their primary treasury reserve asset.”
He added, “With our Bitcoin-first strategy, we aim to be among the first listed companies on NYSE American to adopt Microstrategy’s approach for the benefit of our shareholders.”
Ian Putter, another Director at Genius Group and former Head of Blockchain Domain at Standard Bank, noted that the company’s $150 million ATM funding facility will be strategically used to build a significant Bitcoin reserve, thereby strengthening its balance sheet and enhancing shareholder returns.
He highlighted the advantage of being a Singapore-incorporated entity with 0% capital gains tax, which aligns well with their Bitcoin-focused strategy.
Roger Hamilton, CEO of Genius Group, shared that the company has faced a challenging two-year battle against market manipulators, resulting in its share price dropping below $0.60 and a market capitalization of just $12 million, despite reporting audited annual revenue of $23 million and total assets of $43 million for 2023.
He pointed out that the company has ongoing litigation against alleged market manipulators, led by Wes Christian, with estimated damages exceeding $250 million.
Hamilton believes that embracing transparent, decentralized blockchain technology presents an opportunity to realign Genius Group’s share price with its actual value.
Hamilton concluded by expressing the vision for a new breed of future-oriented, AI-driven, blockchain-based public companies that can connect the current centralized stock markets like NYSE and NASDAQ with the promising potential of decentralized economies.
He believes Genius Group’s commitment to education positions it uniquely to prepare the next generation for a dramatically different future in terms of earning and learning.
Read Daily Crypto News for more news and updates like this.
Follow us on CoinMarketCap.
Also Read: Analysis Now Suggests Bitcoin Could Aim For A Target Of $137,000
About The Author
Leave your thoughts below.
Read Daily Market News – https://franknez.com/ for more news and updates like this.