Genius Group Resumes Bitcoin Purchases, Boosts Treasury by 40%

Genius Group, a Singapore-based artificial intelligence firm, has resumed purchasing Bitcoin for its corporate treasury following a favorable ruling by the US Court of Appeals. The company had been temporarily barred from expanding its Bitcoin holdings due to a court order that prohibited it from selling shares, raising funds, and using investor funds to buy more Bitcoin.

In a May 22 announcement, Genius Group revealed that it had increased its Bitcoin Treasury by 40% with the purchase of 24.5 BTC, valued at approximately $2.7 million. This acquisition brings the company's total Bitcoin holdings to 85.5 BTC, acquired for a total of $8.5 million, at an average price of $99,700 per coin.

Roger Hamilton, the CEO of Genius Group, expressed satisfaction with the court's decision, stating, "We are pleased to be able to begin the task of rebuilding shareholder value from the damage caused by the legal actions of third parties, and delivering on our 2025 plan."

Hamilton emphasized the company's long-term commitment to educating students on the ABCs of the Future: AI, Bitcoin, and Community. He believes that Genius Group is preparing the world for the upcoming digital workforce and digital economy, with building the Bitcoin Treasury being a key part of that plan.

Genius Group is listed on the New York Stock Exchange with a current market cap of $24.34 million. The company's stock is trading at under half of the value it had at the start of the year, at $0.34 at the time of writing, dropping over 8% in the last trading day from $0.41.

By accumulating Bitcoin, Genius Group is following the lead of Strategy, previously known as MicroStrategy, which holds well over 2% of the total Bitcoin that will ever be created and continues buying more. The firm acquired nearly $765 million in Bitcoin last week.

Genius Group is not the only company following in Strategy’s footsteps. Earlier this month, a listed catering company with a $24.2 million market cap adopted a Bitcoin treasury strategy in partnership with an investment firm. Additionally, shares of a luxury watchmaker surged more than 60% in premarket trading after the company said it would adopt a Bitcoin accumulation strategy and had changed its name to AsiaStrategy.