Hold onto your hats, folks, because Genius Group is diving headfirst into the Bitcoin ocean with a splash that's sure to make waves! This education and business acceleration powerhouse has just revamped its board to welcome blockchain and Web3 whizzes, and they're not stopping there. With a fresh “Bitcoin-first” strategy, the company is swapping out its piggy bank for a digital wallet, planning to stash a whopping 90% of its reserves in Bitcoin. That's a cool $120 million investment, translating to around 1,380 BTC, setting them up to follow in the footsteps of Bitcoin giant MicroStrategy.
CEO Roger Hamilton isn't just playing the crypto game for fun. He's got a plan to tackle recent challenges, including a hefty drop in share prices. By adopting the decentralized magic of blockchain, Hamilton hopes to align the company's market value with its assets, smoothing out the bumps caused by some rough market manipulation battles. With potential damages from ongoing litigation aiming to top $250 million, Genius Group is ready to roll with the crypto punches.
And the market's already responding! Shares rocketed up by 50% in premarket trading, though they did take a little dip later. But with a 61% increase over the past five days, they're definitely riding the Bitcoin wave at $0.95 per share.
But wait, there’s more! Genius Group is also gearing up to sprinkle some Bitcoin magic on their EdTech platform, planning to offer it as a global payment option. Plus, they're launching the “Web3 Wealth Renaissance” education series, a new-age classroom where students can dive deep into the world of Bitcoin and blockchain, all powered by AI learning tools.
As they step into the shoes of Bitcoin trailblazers like MicroStrategy, Genius Group joins a growing club of companies banking on Bitcoin as a hedge against inflation. They're rubbing shoulders with firms like Semler Scientific and Metaplanet, each holding over 1,000 BTC. It's a new era of finance, folks, and Genius Group is leading the charge!
