Artificial intelligence firm Genius Group Limited surged 66% in a day after committing to a MicroStrategy-emulating “Bitcoin-first” strategy — which will see the cryptocurrency become its primary treasury asset.
The Singapore-based artificial intelligence firm, Genius Group Limited, experienced a staggering 66% surge in its stock price after announcing its commitment to a groundbreaking "Bitcoin-first" strategy. This bold move involves allocating 90% or more of the company's reserves, both present and future, to Bitcoin. The company plans to initiate this strategy with a $150 million offering to acquire an initial target of $120 million in Bitcoin. Additionally, Genius Group will introduce Bitcoin payments for its "EdTech" platform and launch a Web3 education series to educate students about cryptocurrencies like Bitcoin. This strategic shift positions Genius Group as one of the first NYSE American listed companies to fully embrace MicroStrategy's Bitcoin strategy, highlighting the potential benefits for its shareholders.
Emulating MicroStrategy: Genius Group's Bitcoin-First Approach
Following in the footsteps of MicroStrategy, Genius Group is adopting a similar approach by prioritizing Bitcoin as its primary treasury asset. MicroStrategy, led by Michael Saylor, has amassed an impressive Bitcoin holding of over 279,420 Bitcoins, currently valued at approximately $24.5 billion. Inspired by MicroStrategy's success, other companies like Semler Scientific and Metaplanet have also joined the Bitcoin treasury bandwagon, each holding over 1,000 Bitcoins.
Genius Group's Commitment to Bitcoin
Genius Group's "Bitcoin-first" strategy signifies a strong belief in the potential of Bitcoin as the primary store of value that will power exponential technologies in the future. The company's board restructuring includes blockchain and Web3 industry experts, further reinforcing its dedication to embracing the transformative potential of cryptocurrencies. By committing a substantial portion of its reserves to Bitcoin, Genius Group aims to capitalize on the digital currency's growth and create value for its shareholders.
Genius Group's Vision for Exponential Technologies
Established in 2002, Genius Group has focused on leveraging artificial intelligence to empower individuals and organizations in various sectors. Their AI-powered education technology caters to students at all levels, from primary to tertiary education, as well as entrepreneurs, businesses, and government entities. The company's forward-thinking vision aligns with the exponential technologies of the future, with Bitcoin playing a central role as the primary store of value.
Bitcoin Payments and Web3 Education Series
As part of its Bitcoin-first strategy, Genius Group plans to enable Bitcoin payments for its "EdTech" platform. This implementation will allow users to transact using Bitcoin, embracing the advantages of blockchain technology. Moreover, the company will launch a Web3 education series dedicated to educating students about Bitcoin and other cryptocurrencies. By fostering a deeper understanding of these digital assets, Genius Group aims to equip the next generation with the knowledge and skills necessary to thrive in a blockchain-powered world.
A Surge in Stock Price Reflects Market Confidence
Following the announcement of its Bitcoin-first strategy, Genius Group's stock price experienced a significant surge. On November 12, Genius Group (GNS) shares closed at $1.05, marking a remarkable 66.4% increase. The momentum continued after-hours trading, with the stock price rising to $1.71, representing a 62.86% surge. The market's positive response underscores investors' confidence in Genius Group's strategic decision and the potential growth opportunities associated with Bitcoin.
A Revolutionary Step Forward
Genius Group's commitment to a "Bitcoin-first" strategy signals a revolutionary step forward for companies seeking to diversify their treasury assets. By embracing Bitcoin as a primary store of value, Genius Group is positioning itself at the forefront of the digital currency revolution. As more companies adopt similar strategies, Bitcoin's influence as a global currency and store of value is set to increase exponentially.
In conclusion, Genius Group's surge following its "Bitcoin-first" strategy announcement reflects the market's recognition of the transformative potential of cryptocurrencies like Bitcoin. By committing the majority of its reserves to Bitcoin, Genius Group aims to harness the growth potential of this digital asset and create value for its shareholders. With a focus on educating students about Bitcoin and enabling Bitcoin payments, Genius Group is actively contributing to the adoption and understanding of cryptocurrencies in the wider community. As the world embraces the era of exponential technologies, Bitcoin's role as a primary store of value is poised to shape the future of finance and beyond.