Key Points
- Genius Group plans to allocate 90% of its reserves to Bitcoin and aims to acquire $120 million in Bitcoin using its $150 million ATM facility, marking one of the first NYSE American-listed companies to fully embrace MicroStrategy’s Bitcoin strategy.
- The Singapore-based education company will integrate Bitcoin payments into its Edtech platform and launch a Web3 education series, leveraging its 0% capital gains tax advantage for its Bitcoin holdings.
Education Tech Giant Makes Bold Move into Bitcoin
Genius Group Limited (NYSE American: GNS), a Singapore-based AI-powered education company, announced its adoption of a “Bitcoin-first” strategy, following in the footsteps of MicroStrategy’s treasury management approach. The company’s board, recently restructured to include blockchain experts, has approved a comprehensive plan to make Bitcoin its primary treasury reserve asset.
Strategic Implementation and Educational Integration
The company’s ambitious plan involves utilizing its $150 million ATM facility to acquire an initial $120 million in Bitcoin for long-term holding. Beyond treasury management, Genius Group is integrating cryptocurrency into its core business model by enabling Bitcoin payments across its global Edtech platform and launching a Web3 Wealth Renaissance education series focused on Bitcoin, cryptocurrency, and blockchain technology.
Corporate Strategy Amid Market Challenges
Roger Hamilton, Genius Group’s CEO, positioned this move within the context of the company’s broader challenges, noting that despite reporting $23 million in audited annual revenue for 2023 and total assets of $43 million, the company has faced significant market pressure, with its share price dropping below $0.60 and market capitalization falling to $12 million. The company is currently engaged in litigation against alleged market manipulators, with claimed damages exceeding $250 million.
“We believe a new type of future-focused, AI-driven, blockchain-based public listed companies can bridge the divide for investors between the current, centralized and regulated world of NYSE, NASDAQ and other stock markets with the future promise of decentralized, exponential economies,” Hamilton stated.
The company’s move is particularly noteworthy given its Singapore incorporation, which provides a 0% capital gains tax advantage for its Bitcoin holdings. Thomas Power, Genius Group Director and former Board Director at Team Blockchain, emphasized the company’s belief in Bitcoin as the primary store of value for powering future exponential technologies.
