Key takeaways
- Shares of Genius Group rose 11% after the company expanded its Bitcoin treasury to $30 million.
- The company reported a BTC return of 1,649% since its initial acquisition in November.
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Shares of Genius Group Limited (GNS) rose 11% to around $0.72 in early U.S. trading Monday after the AI-focused education company announced it had expanded its Bitcoin holdings at $30 million, according to Yahoo Finance.
The company increased its Bitcoin treasury by $10 million, bringing its total holdings to 319.4 Bitcoins, according to a statement released Monday.
This expansion comes as Genius Group announced a 177% increase in its net asset value to over $54 million in the first half of 2024, surpassing its market capitalization of over $40 million.
The company also introduced BTC Yield as a new performance metric, achieving a 1,649% return since its initial Bitcoin acquisition in November.
Genius Group first revealed plans to hold 90% or more of its reserves in Bitcoin in November, with an initial target of $120 million. Since then, the company has made regular purchases, starting with a $10 million investment on November 18.
“We purchase Bitcoin regularly and are pleased to be ahead of our internal schedule to reach our initial goal of 1,000 Bitcoin in our treasury,” said Roger Hamilton, CEO of Genius Group.
The Bitcoin purchases were funded by a combination of reserves, ATM revenue, and a $10 million Bitcoin loan from Arch Lending.
As of December 29, 2024, Bitcoin Treasury was valued at $30.4 million based on the Bitcoin price of $95,060, while the company’s market capitalization was $40.6 million, giving a BTC/Price ratio of 75%.
“While we are happy to achieve a high BTC yield, we believe that the performance of our Bitcoin is not yet reflected in our stock price. This is indicated by the fact that Genius Group has a high BTC/Price ratio of 75%, which we believe is significantly higher than our industry peers,” said Gaurav Dama, CFO of Genius Group.
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