Key Takeaways
- Genius Group stock rose 11% after the company expanded its Bitcoin Treasury to $30 million.
- The company reported a 1,649% BTC return since it was first purchased in November.
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Genius Group Limited (GNS) stock rose 11% to around $0.72 in early US trading on Monday after the AI-driven education company said it had expanded its Bitcoin holdings to $30 million , reportedly. Yahoo Finance.
The company increased its Bitcoin Treasury by $10 million, bringing its total holdings to 319.4 Bitcoin, as of Monday report.
The expansion comes as Genius Group reported a 177% increase in net asset value to more than $54 million in the first half of 2024, surpassing its market capitalization of more than $40 million .
The company also introduced BTC Yield as a new performance metric, achieving a yield of 1,649% since its first Bitcoin acquisition in November.
Genius Group first revealed plans keep 90% or more of its reserves in Bitcoin in November, with an initial target of $120 million. Since then the company has made regular purchases, starting with a $10 million investment on November 18th.
“We have been buying Bitcoin regularly and are pleased to be ahead of our internal schedule to reach our original target of 1,000 Bitcoin in our Treasury,” said Genius Group CEO, Roger Hamilton .
The Bitcoin purchase was financed through a combination of reserves, ATM cash, and a $10 million Bitcoin loan from Arch Loan.
As of December 29, 2024, Bitcoin Finance was valued at $30.4 million based on a Bitcoin price of $95,060, and the company's market cap was $40.6 million, resulting in a BTC/Price ratio of 75%.
“While we are happy to have a high BTC yield, we believe that our Bitcoin performance is not yet reflected in our share price. This is characterized by Genius Group with a high BTC / Price ratio of 75%, which we believe is significantly higher than our industry peers,” said Genius Group CFO Gaurav Dama.
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