Genius Group Limited (NYSE: GNS) shares began Monday on the upside, as the company, a leading AI-powered, Bitcoin-first education group, today announced that it had increased its Bitcoin purchases for its Bitcoin Treasury by an additional $10 million to 319.4 Bitcoin for $30 million, at an average price of $93,919 per Bitcoin.
The total purchase of $30 million of Bitcoin has been made within six weeks of the Company’s announcement on November 12 of its “Bitcoin-first” strategy that it is committing 90% or more of its current and future reserves to be held in Bitcoin, with an initial target of $120 million in Bitcoin. The milestone to reach 25% of the initial target is ahead of the Company’s target schedule.
Genius Group has adopted BTC Yield as a Bitcoin Treasury Key Performance Indicator (KPI) to help assess the performance of its Bitcoin Treasury strategy in a manner the Company believes is accretive to its shareholders, and to compare its performance to other Bitcoin Standard companies.
CEO Roger Hamilton said “It has been less than two months since we launched our Bitcoin Treasury Strategy. We have been buying Bitcoin consistently and are pleased to be ahead of our internal schedule to reach our initial target of 1,000 Bitcoin in our treasury.”
GNS shares jumped 7.5 cents, or 11.6%, to 72 cents.
