Genius Group, a Singapore-based AI firm, has resumed its Bitcoin purchases after a US court lifted a prior ban, increasing its Bitcoin treasury by 40% with the acquisition of 24.5 BTC valued at approximately $2.7 million. Following a favorable ruling from the US Court of Appeals on May 22, the company has begun to rebuild shareholder value that was impacted by legal actions restricting its financial activities, including the selling of shares and using investor funds for BTC purchases. The firm's CEO, Roger Hamilton, emphasized its commitment to education around AI, Bitcoin, and community as part of their strategy to prepare for the digital economy. Genius Group’s Bitcoin holdings now total 85.5 BTC worth about $8.5 million, at an average acquisition price of $99,700 per coin. The firm aims to position itself similarly to MicroStrategy, which has pioneered corporate Bitcoin treasuries. Additionally, more companies are adopting similar strategies, with both a Bahrain-based catering company and luxury watchmaker Top Win announcing their Bitcoin accumulation plans recently.

Source 🔗