Summary
- Genius Group recently announced the additional purchase of $5 million worth of Bitcoin.
- This is the second purchase following the $10 million Bitcoin purchase earlier this year, and they currently hold 420 BTC (approximately $40 million).
- Genius Group intends to convert its reserves into Bitcoin and is planning a rights offering of up to $50 million to achieve this.
Nasdaq-listed AI-based education company Genius Group has purchased an additional $5 million worth of Bitcoin (BTC).
According to GlobeNewswire on the 20th (local time), Genius Group announced that it had purchased Bitcoin worth $5 million on this day. Previously, Genius Group had also purchased $10 million worth of Bitcoin on December 30th last year.
Currently, Genius Group holds 420 BTC (approximately $40 million). The average purchase price is $95,912.
Genius Group, which announced its Bitcoin reserve plan last November, aims to hold more than 90% of its current or future reserves in Bitcoin. The short-term goal is to hold BTC worth $120 million.
On the 15th, it was announced that they are planning a rights offering of up to $50 million to fund Bitcoin purchases.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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