Genius Group adds to its Bitcoin Treasury, with total purchase of 194 Bitcoin for $18 million

Rhea-AI Summary

Genius Group (NYSE American: GNS), a leading AI-powered, Bitcoin-first education group, announced an increase in its Bitcoin purchases for its Bitcoin Treasury by an additional $2.2 million, bringing its total to 191 Bitcoin valued at $18 million. The average price per Bitcoin was $92,728. The company had previously committed to holding 90% or more of its current and future reserves in Bitcoin, with a target of $120 million in Bitcoin. Following an initial purchase of $10 million in Bitcoin, Genius Group has been adding an average of $2 million per week over the past four weeks. An Investor Meeting will be held on December 10, 2024, at Bitcoin MENA 2024 in Abu Dhabi, where CEO Roger Hamilton will discuss the company's growth plans for 2025, including its 'Bitcoin-First' Treasury Strategy and its AI-powered decentralized education network, featuring on-chain GEMs, AI tutors, and AI Certifications built on the Lightning Network.

Positive

• Increased Bitcoin holdings to 191 Bitcoin valued at $18 million.
• Commitment to holding 90% or more of reserves in Bitcoin.
• Targeting $120 million in Bitcoin reserves.
• Consistent weekly Bitcoin purchases averaging $2 million.

Negative

• High average purchase price of $92,728 per Bitcoin.

News Market Reaction

+1.06%

1 alert

+1.06% News Effect

On the day this news was published, GNS gained 1.06%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

SINGAPORE, Dec. 09, 2024 (GLOBE NEWSWIRE) -- Genius Group Limited (NYSE American: GNS) (“Genius Group” or the “Company”), a leading AI-powered, Bitcoin-first education group, today announced that it had increased its Bitcoin purchases for its Bitcoin Treasury by an additional $2.2 million to 191 Bitcoin for $18 million, at an average price of $92,728 per Bitcoin.

The Company’s announced on November 12 of its “Bitcoin-first” strategy that it is committing 90% or more of its current and future reserves to be held in Bitcoin, with an initial target of $120 million in Bitcoin. Following its initial purchase of $10 million in Bitcoin in the week of the announcement, in the four subsequent weeks it has been adding an average of $2 million per week to its Bitcoin reserve.

The Company will be hosting an Investor Meeting live from Bitcoin MENA 2024 in Abu Dhabi at 5.30pm UAE time, 8.30am US Eastern Time, on Tuesday, December 10, 2024, where the Company’s CEO, Roger Hamilton, will provide details of the Company’s growth plans in 2025 including its “Bitcoin-First” Treasury Strategy and its AI-powered “Built on Bitcoin” decentralized education network plan, with on-chain GEMs (Genius Education Merits), AI tutors and AI Certifications built on the Lightning Network.

Investors can attend the Investor Meeting live at the Genius Group Booth, Bitcoin MENA 2024, at ADNEC Centre in Abu Dhabi, or by visiting https://www.geniusgroup.ai/

About Genius Group

Genius Group (NYSE: GNS) is a Bitcoin-first business delivering AI powered, education and acceleration solutions for the future of work. Genius Group serves 5.4 million users in over 100 countries through its Genius City model and online digital marketplace of AI training, AI tools and AI talent. It provides personalized, entrepreneurial AI pathways combining human talent with AI skills and AI solutions at the individual, enterprise and government level. To learn more, please visit www.geniusgroup.net.

For more information, please visit https://www.geniusgroup.net/

Forward-Looking Statements 

Statements made in this press release include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by the use of words such as “may,” “will”, “plan,” “should,” “expect,” “anticipate,” “estimate,” “continue,” or comparable terminology. Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate and involve factors that may cause actual results to differ materially from those projected or suggested. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading “Risk Factors” in the Company's Annual Reports on Form 20-F, as may be supplemented or amended by the Company's Reports of a Foreign Private Issuer on Form 6-K. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise. No information in this press release should be construed as any indication whatsoever of the Company’s future revenues, results of operations, or stock price.

Contacts

MZ Group - MZ North America
(949) 259-4987
GNS@mzgroup.us
www.mzgroup.us

FAQ

What is Genius Group's recent Bitcoin purchase announcement?

Genius Group announced an additional $2.2 million purchase of Bitcoin, increasing its total to 191 Bitcoin valued at $18 million.

What is the average price Genius Group paid for Bitcoin?

Genius Group paid an average price of $92,728 per Bitcoin.

What is Genius Group's 'Bitcoin-First' strategy?

Genius Group's 'Bitcoin-First' strategy involves committing 90% or more of its reserves to Bitcoin, with a target of $120 million in Bitcoin.

When and where is the Genius Group's Investor Meeting?

The Investor Meeting is on December 10, 2024, at Bitcoin MENA 2024 in Abu Dhabi.

What will be discussed at the Genius Group Investor Meeting?

CEO Roger Hamilton will discuss the company's 2025 growth plans, including the 'Bitcoin-First' Treasury Strategy and the AI-powered decentralized education network.