Key Takeaways
- Shares of Genius Group rose 11% after the company expanded its Bitcoin Treasury to $30 million.
- The company has reported a return of 1,649% of BTC since its initial acquisition in November.
Shares of Genius Group Limited (GNS) rose 11% to about $0.72 in early U.S. trading Monday after the artificial intelligence-driven education company said it expanded its Bitcoin holdings to $30 million, according to Yahoo Finance.
The company increased its bitcoin hoard by $10 million, bringing its total supply to 319.4 bitcoins, it said on Monday statement.
The expansion comes as Genius Group reported a 177% increase in net asset value to over $54 million in the first half of 2024, surpassing its market capitalization of more than $40 million.
The company also introduced BTC return as a new performance metric, achieving a 1,649% return since its initial purchase of Bitcoin in November.
Genius Group first revealed plans to they hold 90% or more of its bitcoin reserves in November, with an initial goal of $120 million. The company has since made regular purchases, starting with a $10 million investment on November 18.
“We are constantly buying bitcoin and are pleased to be ahead of our internal schedule to reach our initial goal of 1,000 bitcoins in our treasury,” said Genius Group CEO Roger Hamilton.
The Bitcoin purchase was financed with a combination of reserves, ATM revenue and a $10 million Bitcoin loan from Arch Lending.
As of December 29, 2024, Bitcoin Treasury was valued at $30.4 million based on a Bitcoin price of $95,060, while the company’s market cap was $40.6 million, resulting in a BTC/price ratio of 75%.
“While we are pleased to be achieving a high BTC yield, we believe that our Bitcoin performance is not yet reflected in our share price.” This indicates that Genius Group has a high BTC/price ratio of 75%, which we believe is significantly higher than our industry peers,” said Genius Group CFO Gaurav Dama.
