Genius Group cites GENIUS Act as it boosts Bitcoin stash to 200 BTC
Singapore-based AI edtech firm Genius Group doubled its Bitcoin holdings to 200 BTC in July while expanding its crypto initiatives under the newly passed GENIUS Act.
Singapore-based artificial intelligence-driven edtech firm Genius Group added 20 BTC to its Bitcoin treasury last week as part of its long-term strategy to build a 10,000-BTC treasury reserve — doubling it in a month.
According to a Tuesday announcement, Genius Group acquired 20 Bitcoin (BTC) on Friday, boosting its total holdings to 200 BTC. Bitcoin traded between $117,000 and $120,600 on the day, according to Nansen data.
The announcement said the 20 BTC was acquired at an average price of $106,812 per BTC, 9.5% to 12.9% lower than market price. With a total purchase price of $2.14 million for BTC worth $2.35 million at the time of writing, Genius has already made a total profit of $216,000, or roughly 9.8%, according to the announcement.