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Genius Group Grows Bitcoin Treasury by $10 Million
December 30, 2024 – Within a remarkably short span of six weeks since announcing its Bitcoin-first strategy on November 12, 2024, Genius Group has successfully added a staggering $10 million to its Bitcoin holdings. This notable milestone brings the company’s total Bitcoin reserves to an impressive 319.4 BTC at an average purchase price of $93,919 per Bitcoin.
The latest development marks a significant stride forward in achieving the company’s initial goal of amassing $120 million in Bitcoin reserves, which it is now likely to surpass ahead of schedule. This monumental achievement underscores Genius Group’s unwavering commitment to its “Bitcoin-first” philosophy and aggressive pursuit of maximizing shareholder value.
Notably, the company has achieved a remarkable 1,649% BTC Yield, a proprietary metric used by Genius Group to gauge the performance of its Bitcoin Treasury. This exceptional performance is a testament to the company’s astute investment strategy and keen ability to navigate the volatile cryptocurrency market with ease.
Genius Group CEO Roger Hamilton highlighted the strategic importance of this 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 of December 29, 2024, the company’s Bitcoin holdings were valued at $30.4 million, based on the cryptocurrency’s current market price of $95,060. This valuation represents a significant increase from its previous worth, which stood at $20.4 million just two weeks ago.
The funds used to acquire these additional Bitcoin assets have been sourced through a combination of reserves and an at-the-market offering, as well as a strategic $10 million Bitcoin-backed loan from Arch Lending.
This remarkable growth in Genius Group’s Bitcoin Treasury underscores the company’s commitment to its Bitcoin-first strategy and its relentless pursuit of generating value for its shareholders.
Source: http://www.cryptonewsz.com
