Genius Group increases Bitcoin Treasury to total purchase of 172 Bitcoin for $15.8 million

Rhea-AI Summary

Genius Group (NYSE American: GNS) has expanded its Bitcoin Treasury with an additional $1.8 million investment, bringing its total to 172 Bitcoin valued at $15.8 million, purchased at an average price of $92,006 per Bitcoin. This move follows the company's November 12 announcement of its 'Bitcoin-first' strategy, which commits to holding 90% or more of its reserves in Bitcoin, targeting $120 million. The company will host an Investor Meeting at Bitcoin MENA 2024 in Abu Dhabi on December 10, where CEO Roger Hamilton will discuss 2025 growth plans, including the Bitcoin-First Treasury Strategy and AI-powered decentralized education network built on the Lightning Network.

Positive

• Acquired 172 Bitcoin worth $15.8 million for treasury reserves
• Implementing strategic commitment to hold 90% of reserves in Bitcoin
• Progress toward $120 million Bitcoin target

Negative

• High average purchase price of $92,006 per Bitcoin compared to current market prices
• Significant concentration of company reserves in a volatile asset

SINGAPORE, Dec. 02, 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 $1.8 million to 172 Bitcoin for $15.8 million, at an average net price of $92,006 per Bitcoin.

The total purchase of $15.8 million of Bitcoin has been made within three weeks of the Company’s announcement 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.

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 https://www.geniusgroup.ai/

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

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

How many Bitcoin does Genius Group (GNS) currently hold in its treasury?

Genius Group (GNS) currently holds 172 Bitcoin in its treasury, purchased for a total of $15.8 million.

What is Genius Group's (GNS) Bitcoin-first strategy target?

Genius Group's Bitcoin-first strategy aims to commit 90% or more of its current and future reserves to Bitcoin, with an initial target of $120 million in Bitcoin.

What was the average purchase price of Bitcoin for Genius Group (GNS)?

Genius Group (GNS) purchased Bitcoin at an average net price of $92,006 per Bitcoin.