As a seasoned researcher with a background in technology and finance, I find Genius Group Limited’s decision to adopt a “Bitcoin-first” strategy intriguing. The parallels drawn with MicroStrategy are noteworthy, especially considering the success Michael Saylor has achieved with his Bitcoin-heavy approach.
The tech company, Genius Group Limited, experienced a significant jump of 66% in one day, following their announcement to adopt a similar approach as MicroStrategy by making Bitcoin their main reserve currency, implying that most of their cash reserves will be held in Bitcoin.
As a researcher, I am proposing a significant shift in our financial strategy: We aim to dedicate 90% or more of the company’s existing and forthcoming reserves towards investing in Bitcoin (BTC). This transition will be initiated with a $150 million At-the-Market (ATM) offering, primarily intended for purchasing an initial target of $120 million worth of Bitcoin.
On November 12, the Genius Group announced that they would be accepting Bitcoin payments for their educational technology (EdTech) platform, in addition to this, they plan to introduce a Web3 education program designed to teach students about various digital currencies like Bitcoin and others.
On November 12, Genius Group (GNS) shares ended the day with a 66.4% increase, closing at $1.05. These stocks further surged by an additional 62.86 points, reaching $1.71 during extended trading hours, as reported by Google Finance.
According to Thomas Power, a director at Genius Group, the strong argument that Michael Saylor and MicroStrategy put forth for public companies to hold Bitcoin as their main treasury reserve asset is one we wholeheartedly support.
“We believe with our Bitcoin-first strategy, we will be among the first NYSE American listed companies to fully embrace MicroStrategy’s Bitcoin strategy for the benefit of our shareholders.”
Established in Singapore back in 2002, this company specializes in AI-driven educational technology catering to various segments. These range from primary, secondary, and university students, as well as entrepreneurs, businesses, and government entities. In 2022, the company went public on the NYSE American stock exchange.
The statement indicates that the new policy has been implemented following a reorganization of the board, which now includes several professionals from the blockchain and Web3 sectors.
As a forward-thinking cryptocurrency investor, I’m drawn to Genius Group, an educational institution dedicated to nurturing talent in the transformative technologies of tomorrow. In my view, Bitcoin stands out as the dominant form of value storage that will drive these exponential technologies, a perspective shared by Power.
The company is treading the same road as MicroStrategy, which now owns over 279,420 Bitcoins, valued at approximately $24.5 billion given current Bitcoin prices of roughly $88,000.
This year, other companies such as Semler Scientific and Metaplanet have jumped on board with the trend of investing in Bitcoin for their treasuries, each owning more than 1,000 Bitcoins.
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2024-11-13 04:27