Genius Group's decision to invest in Bitcoin leads to a 50% jump in the stock, now at $0.70.
Genius Group embraces bitcoin as treasury asset
In a bold step toward modernizing its reserves, Genius Group announced that 90% of its current and future reserves will be held in Bitcoin. This strategic decision came after a restructuring of the board of directors to include members with experience in the cryptocurrency industry. The company plans to initially acquire Bitcoin worth $120 million, a clear signal of its intention to align with emerging trends in the world of finance.
Genius Group's shares reacted positively to this news, rising 50% in pre-market trading, taking the share price to $0.70, after peaking at $1. This jump in share prices reflects investors' optimism about the company's new strategic direction and the growing acceptance of cryptocurrencies as legitimate assets.
A comparison with MicroStrategy
Genius Group is not the only company following this path. The company was inspired by MicroStrategy, which currently holds 279,420 BTC, valued at about $24 billion. Genius Group's approach of investing in Bitcoin as its main treasury asset could mark a significant change in the way companies manage their reserves. With the planned purchase of about 1,380 BTC at current prices, Genius Group is positioning itself as a key player in the cryptocurrency landscape.
Implications for the cryptocurrency market
This move could have significant repercussions not only for Genius Group, but also for the cryptocurrency market as a whole. The adoption of Bitcoin by publicly traded companies could help further legitimize cryptocurrencies as an investment asset. Investors are beginning to see Bitcoin not only as a store of value, but also as a strategic option for portfolio diversification.
Conclusions and future prospects
With increasing pressure for corporate adoption of cryptocurrencies, one wonders whether Genius Group will be able to maintain its momentum. The question remains: will other companies follow the example of Genius Group and MicroStrategy, or will this be an exception in the corporate landscape? The answer to this question could determine the future of cryptocurrencies in the business world. Stay tuned for more updates on this evolving story.
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