Genius Group, a Singapore-based artificial intelligence company, significantly expanded its corporate Bitcoin treasury by acquiring additional BTC amidst growing interest from institutional investors.
Increase of Corporate Treasury
Genius Group increased its corporate Bitcoin treasury by more than 50%, acquiring an additional 34 BTC over the past month. This brings the total holdings to 100 BTC, purchased for over $10 million at an average price of $100,600 per Bitcoin.
BTC Accumulation Strategy
The expansion of the treasury is part of the company’s strategy to accumulate 1,000 BTC for its corporate reserve. Genius Group resumed its BTC accumulation on May 22 after receiving a favorable ruling from the US Court of Appeals overturning the ban on Bitcoin investments.
Legal Challenges
Genius Group’s CEO, Roger Hamilton, noted that the company was one of the first to face legal restrictions on Bitcoin purchases. He expressed satisfaction in regaining the right to manage the company’s capital as the board and shareholders see fit.
Genius Group continues to build its Bitcoin assets, reaching new heights in its corporate reserve, indicating a growing acceptance of cryptocurrency as a reserve asset.
