Genius Group Limited increases its Bitcoin funding to $35 million.
According to a company announcement, the purchase is part of its ongoing effort to accumulate $120 million in Bitcoin reserves, surpassing the milestone ahead of schedule.
The purchase comes just two months after the Singapore-based AI-based education company announced its “Bitcoin-first” strategy in early November.
Genius Group added $5 million worth of Bitcoin (BTC) purchases, bringing its total holdings to 372 BTC at an average purchase price of $94,047 per Bitcoin.
As of January 9, the company’s Bitcoin treasury was valued at $35 million, reflecting the current Bitcoin price of about $94,000.
Genius Group has a market capitalization of $42 million and a BTC-to-price ratio of 83%.
Genius Group additional loan
According to the announcement, Genius Group increased its loan through Arch Lending from $10 million to $14 million to further grow its Bitcoin Treasury, maintaining a 40% loan-to-value ratio.
Following its strategy of allocating more than 90% of its reserves to Bitcoin, the company is actively using cryptocurrency-backed loans to raise reserves without selling Bitcoin.
Genius Group, which integrates AI solutions into education, sees Bitcoin as a key component of its financial strategy. CEO Roger Hamilton compared the company’s approach to that of other public companies that have adopted Bitcoin as a reserve asset, highlighting its potential as a “store of value” in the digital economy.
The company’s “Bitcoin-first” strategy is consistent with its broader plans to integrate blockchain technology into its AI-based education platform. These plans include implementing an on-chain authentication and rewards system using Bitcoin’s Lightning Network.