In a significant step towards cryptocurrency adoption, AI-driven education firm Genius Group has committed to integrating Bitcoin as the core of its treasury strategy. The Singapore-based company has embraced a "Bitcoin-first" approach, with plans to allocate 90% of its current and future reserves to Bitcoin, signalling strong confidence in the cryptocurrency's long-term potential.
This major corporate decision follows a broader trend of companies seeking Bitcoin as a hedge against inflation and market volatility. Genius Group, following in the footsteps of companies like MicroStrategy, has decided to position Bitcoin at the heart of its financial reserves. The company has earmarked a substantial $120 million from its $150 million At-The-Market (ATM) funding facility to purchase Bitcoin, which at current market prices would amount to roughly 1,380 BTC.
Thomas Power, a Director at Genius Group, a former CMO at Amnesta and an Advisor to other firms within the blockchain space also underlined the fact that Bitcoin will remain the bedrock for Genius Group’s future growth in exponential technologies including blockchain and Web3. Their endorsement lines up with Michael Saylor’s MicroStrategy, which was the first company to implement corporate Bitcoin reserves in 2020.
I concluded the above points based on the recent change of restructuring of the Genius Group board with highly qualified professionals such as Ian Putter with specialization in block-chain compliance and regulation about Power. Putter, who has earlier served Standard Bank and developed the Blockchain Research Institute Africa, said that storing Bitcoin in Singapore is beneficial from the tax perspective as Bitcoin is free from capital gains tax.
In addition to adopting Bitcoin as a treasury asset, Genius Group is advancing its Web3 strategy by launching the Web3 Wealth Renaissance education series. This initiative will educate students on Bitcoin, blockchain, and cryptocurrency fundamentals. The company also plans to integrate Bitcoin payments into its education platform, providing a more crypto-friendly experience for users.
This strategic shift is another well-explained constant focus on the blockchain technology development in the company. About market manipulation, and skills that blockchain can solve, Genius Group supports the cause that its CEO, Roger Hamilton has championed. The company has undertaken legal action against some named and certain unknown market manipulators for at most 250 million dollars.
The move to include Bitcoin in its reserves and payment systems was well welcomed by investors. Genius Group saw its stocks rise significantly in pres-trade by 50% and achieved a final rise of 10% as investors warm up to a Bitcoin-first firm.
The example of Genius Group highlights a growing trend of companies worldwide incorporating cryptocurrency into their business strategies. This shift reflects increasing corporate trust in Bitcoin as both a reliable protective asset and a valuable strategic investment for the future.