Genius Group, a Singapore-based artificial intelligence (AI)-powered education and acceleration company, today announced that its board of directors has adopted a global “Bitcoin First” strategy, making bitcoin (BTC) its primary reserve asset. treasury.
The decision to adopt this policy was made after a recent restructuring of its board of directors to include experts in Web3 technologies, thus seeking to align the company’s financial strategy with emerging technological trends.
The company plans to use its offerings in the markets to acquire 120 million dollars in bitcoinwhich will be maintained in the long term as its main treasury reserve asset.
Additionally, Genius Group has committed to allocating “90% or more of current and future reserves to be held in bitcoin,” according to reported from company.
As part of this new direction, Genius Group will launch its Web3 Wealth Renaissance educational series, aimed at accelerating the understanding of Bitcoin, cryptocurrency and blockchain among its students, using the company’s AI-powered guides. Likewise, payments in BTC will be enabled globally on Genius Group’s Edtech platform.
Genius Group executives acknowledged having been influenced by Michael Saylor’s bitcoin adoption strategy at MicroStrategy (which is why the title says this company is a “new MicroStrategy,” metaphorically).
Thomas Power, director of Genius Group, expressed his support for this strategy: “We believe Michael Saylor and Microstrategy have presented a compelling argument for public companies to invest in BTC as their main treasury reserve asset, which we fully support.”
Power and his team see BTC as “the primary store of value that will drive these exponential technologies.” With this adoption, Genius Group is positioned as one of the first companies listed on the New York Stock Exchange. York to fully follow MicroStrategy’s bitcoin strategyaccording to Power.
With its investment, Genius Group thus joins other global companies that have adopted BTC accumulation strategies. Among them, Metaplanet stands out, a Japanese corporation that has recently become a bitcoin whale, as reported by CriptoNoticias, for exceeding the 1,000 BTC mark under its management.
Although an exact date for the acquisition has not been specified, if Genius Group executes its BTC purchase in the short term, the company would have approximately 1,300 BTC in custodywhich would automatically make it another whale in the bitcoin ecosystem.
