AI startup Genius Group has made significant allocation into Bitcoin as it looks to keep a functional BTC reserve
Genius Group, a prominent Artificial Intelligence (AI) firm, recently revealed its intention to buy Bitcoin worth $120 million. Inspired by MicroStrategy’s treasury strategy, Genius Group aims for Bitcoin to make up 90% of its reserves.
This bold move comes just as Bitcoin hit a new record high, reflecting Genius Group’s strong confidence in the future of cryptocurrency.
Genius Group to Make BTC its Core Asset
The Genius Group Director, Thomas Power, stressed that the company views Bitcoin as the primary store of value capable of fueling growth in advanced technologies.
Genius Group is committed to integrating digital assets into its operations by holding Bitcoin as a long-term reserve. Upon the announcement, the company’s stock GNS jumped sharply to a 79% increase, trading at $1.13 on Tuesday and peaking briefly at $1.41.
Genius Group’s stock is still down 82% this year despite this recent spike. However, the company’s new focus on Bitcoin could help attract more investors and boost confidence in its future direction.
The timing of Genius Group’s shift aligns with a recent market rally triggered by President Donald Trump’s re-election.
On Monday, Bitcoin surged to an all-time high of $89,864, raising hopes for further gains. At the time of writing, the digital asset is trading at $88,284, up by 0.25%, according to CoinMarketCap data.
Some analysts have predicted that Bitcoin could break the $100,000 mark by the end of the year. This record price signals strong momentum in the market and growing confidence in Bitcoin’s potential.
Following in the footsteps of MicroStrategy, Genius Group is leveraging this momentum to reshape its reserves, eyeing Bitcoin’s potential as a value-storing powerhouse.
Taking Cues from MicroStrategy’s Bitcoin Playbook
Genius Group’s shift to Bitcoin mirrors MicroStrategy’s Bitcoin strategy. The American Intelligence software firm has focused on building massive Bitcoin reserves since 2020.
MicroStrategy now holds nearly $25 billion worth of Bitcoin and has revealed a $42 million plan to buy more. This approach has driven record highs in MicroStrategy’s stock, highlighting Bitcoin’s potential as a financial asset.
By following a similar path, Genius Group reflects a growing trend where companies turn to Bitcoin for added financial stability and long-term growth.
Interestingly, Genius Group and MicroStrategy are not the only ones building Bitcoin-centric reserves. Firms like Metaplanet, Marathon Digital, and Semler Scientific are joining the trend. Even the U.S. government has recently hinted at getting in on the action.
At the Bitcoin conference 2024, Trump proposed a Bitcoin stockpile for the U.S. Treasury. This proposal was aligned with Senator Lummis’s bill, which advocated for holding a million Bitcoin as a national asset.
This growing interest underscores a broader shift towards Bitcoin as corporate and national treasuries look to future-proof their reserves.
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