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In a significant move within the cryptocurrency landscape, the AI firm Genius Group has enhanced its Bitcoin reserves by an additional $5 million, elevating its total holdings to an impressive 372 bitcoins, valued at approximately $35 million. The company’s average acquisition cost stands at $94,047 per bitcoin, indicating a strategic investment approach despite market fluctuations. Launched on November 12, 2024, Genius Group’s ambitious “Bitcoin First” strategy aims to allocate at least 90% of its current and future reserves into Bitcoin, with aspirations to achieve a total of $120 million in Bitcoin assets. This bold strategy underscores the growing trend of institutional adoption of cryptocurrencies, as firms pivot to digital assets as key components of their financial portfolios.
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