Genius Group eyes massive Bitcoin buys from billion-dollar lawsuits
If successful, Genius Group’s $1 billion lawsuits could net shareholders $7 per share while boosting the company’s Bitcoin holdings by 5,000 BTC.
Artificial intelligence-driven edtech firm Genius Group plans to distribute potential winnings from billion-dollar lawsuits to shareholders and use a portion to expand its Bitcoin treasury, the company said.
In a Thursday press release, the board of directors at Genius Group approved the distribution plan for repurposing any wins from two lawsuits that seek combined damages of more than $1 billion.
One lawsuit has been filed under the Racketeer Influenced and Corrupt Organizations Act (RICO), which seeks damages of over $750 million against LZGI International. The second is yet to be filed, according to Genius Group’s CEO, Roger Hamilton.