In Q4 2023, Genius Group took a significant step by strengthening its Bitcoin treasury plan with the purchase of 110 BTC. The company aims to incorporate Bitcoin as a payment method on its educational technology platform.
Genius Group's Bitcoin Acquisition
Genius Group acquired 110 BTC worth $10 million, marking the first step in its strategy to allocate 90% of its reserves to Bitcoin, targeting $120 million in BTC. CEO Roger James Hamilton noted that the company is in a strong position to combine traditional education with new-age financial literacy powered by blockchain. Hamilton stated that when adopting MicroStrategy's Bitcoin treasury plan, companies had no clear guidelines to follow.
Corporate Adoption of Bitcoin
Corporate adoption of Bitcoin accelerated in 2024 with companies like MicroStrategy and MARA Holdings increasing their Bitcoin investments. MicroStrategy recently purchased 51,780 BTC for $4.6 billion, bringing its total holdings to 331,200 BTC. Other firms, including Tokyo-based Metaplanet and Semler Scientific, also expanded their efforts by increasing Bitcoin acquisitions.
Global Rise of Interest in Bitcoin
Interest in Bitcoin is increasing across various countries and industries. Cosmos Health Inc. has added Bitcoin and Ethereum to its reserve assets. Meanwhile, in Poland, presidential candidate Sławomir Mentzen unveiled a plan to establish a national Bitcoin reserve if elected. Currently, Bitcoin trades at $91,467, reflecting a 5% gain over the past week.
Major companies and governments continue to explore the potential of Bitcoin as a strategic asset. This trend may indicate that interest in cryptocurrencies is rising both at corporate and national levels.
