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Genius Group Grows Bitcoin Treasury by $10 Million
In a significant development, Genius Group Limited has announced that it has grown its Bitcoin treasury by a whopping $10 million in just six weeks. This monumental achievement comes after the company unveiled its Bitcoin-first strategy on November 12, 2024.
According to reports, Genius Group’s total holdings have surged to an impressive 319.4 BTC, with an average purchase price of $93,919 per Bitcoin. The staggering increase brings the company’s overall treasury value to a significant $30 million.
The company’s aggressive expansion into the cryptocurrency market is aimed at cementing its “Bitcoin-first” philosophy. This strategic move has allowed Genius Group to outpace its initial goal of reaching $120 million in Bitcoin reserves, marking a notable milestone in its treasury plan.
One of the most striking aspects of this development is the impressive 1,649% BTC Yield achieved by Genius Group. This proprietary metric is used to assess the performance of its Bitcoin Treasury, and the results are nothing short of remarkable.
Speaking on the matter, CEO Roger Hamilton emphasized the importance of the company’s treasury initiative: “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. Now, with a focus on BTC Yield KPI, we are considering various investment and finance options that maximize shareholder value whilst accelerating our progress in building our Bitcoin Treasury.”
As the company’s Bitcoin holdings now stand at $30.4 million, valued at market price of $95,060 as of December 29, 2024, Genius Group has maintained a BTC-to-market-cap ratio of 75%.
Source: www.cryptonewsz.com
