Genius Group Ltd. saw its stock price rise by 11%, reaching about $0.72, after announcing an expansion of its Bitcoin Treasury to $30 million. This increase, which includes a new $10 million investment, takes the total Bitcoin holdings to 319.4 BTC. Since acquiring its first Bitcoin in November, the company has reported an impressive yield of 1,649%. Additionally, Genius Group noted a 177% surge in net asset value to over $54 million in the first half of 2024, which exceeds its Market capitalization of around $40 million. The CEO expressed satisfaction with their progress toward their goal of holding 1,000 Bitcoins in the Treasury.
Genius Group Stock Surges After Bitcoin Treasury Expansion
In the latest financial news, Genius Group Limited (GNS) has seen its stock price jump by 11%, reaching around $0.72 in early US trading on Monday. This increase follows the company’s announcement of expanding its Bitcoin Treasury to $30 million. The education technology firm has significantly boosted its Bitcoin holdings, now totaling 319.4 Bitcoin after investing an additional $10 million.
The company’s decision comes alongside impressive financial growth, as Genius Group reported a staggering 177% increase in net asset value, bringing it to over $54 million in the first half of 2024. This amount surpasses its total Market capitalization of around $40 million.
Notably, Genius Group introduced a new performance metric, BTC Yield, which has achieved an extraordinary 1,649% yield since the company’s initial Bitcoin acquisition last November. Roger Hamilton, the CEO of Genius Group, expressed enthusiasm about their strategic investments. He stated, “We have been buying Bitcoin consistently and are pleased to be ahead of our internal schedule to reach our initial target of 1,000 Bitcoin in our Treasury.”
The investments were supported by various financial strategies, including the use of reserves, proceeds from ATM services, and a $10 million Bitcoin loan from Arch Lending. As of December 29, 2024, the Bitcoin Treasury is valued at $30.4 million based on the current Bitcoin price, leading to a BTC/Price ratio of 75%.
Gaurav Dama, the CFO, remarked on the discrepancy between share price and Bitcoin performance, indicating a potential for growth as the company continues to invest in cryptocurrency.
Key Takeaways:
– Genius Group stock increased by 11% following the expansion of its Bitcoin Treasury.
– The company reported an incredible 1,649% yield from its Bitcoin investments since its initial purchase.
This significant development reflects the growing trend of traditional companies exploring and investing in cryptocurrency, highlighting the potential of Bitcoin as a valuable asset in corporate strategies.
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What is the reason for the surge in Genius Group’s stock price?
Genius Group’s stock jumped 11% after the company announced it’s increasing its Bitcoin Treasury to $30 million. This move shows confidence in Bitcoin and boosts investor enthusiasm.
How does expanding the Bitcoin Treasury benefit Genius Group?
By expanding its Bitcoin Treasury, Genius Group not only increases its digital asset holdings but also positions itself for potential future value growth as Bitcoin becomes more popular.
What does it mean to have a Bitcoin Treasury?
A Bitcoin Treasury means a company holds Bitcoin as part of its assets. This can provide diversification and potential financial gains if the value of Bitcoin rises.
Is investing in Genius Group a good idea now?
Investing in any stock depends on individual financial goals and risk tolerance. With the stock’s recent rise due to the Bitcoin Treasury expansion, investors should do their own research and consider Market conditions.
What are the risks of investing in Bitcoin-related companies like Genius Group?
Investing in Bitcoin can be volatile and risky due to price fluctuations. Companies that heavily invest in Bitcoin, like Genius Group, may experience dramatic changes in stock value based on Bitcoin’s Market performance.
