Genius Group Limited Acquires 110 Bitcoins for $10 Million, Reinforcing Its “Bitcoin-First” Strategy

In a significant move for the cryptocurrency sector, Genius Group Limited (NYSE: GNS) has announced an investment of $10 million to acquire 110 bitcoins, translating to an average cost of $90,932 per bitcoin. This strategic acquisition signifies the company’s formal entry into the realm of cryptocurrency reserves. The announcement, made on November 19, follows the company’s recent declaration of a Bitcoin-first strategy unveiled on November 12, which aims to allocate 90% or more of its existing and future reserves towards Bitcoin, targeting an initial investment volume of $120 million. This latest acquisition serves as the inaugural step in a broader series of planned purchases, enhancing the company’s commitment to embracing the potential of digital currency as a significant component of its asset portfolio.