Genius Group Limited, a Singapore-based artificial intelligence company listed on the New York Stock Exchange, has resumed its Bitcoin acquisition strategy following a favorable ruling by the U.S. Court of Appeals that lifted previous restrictions on its ability to buy Bitcoin. The company aims to build a Bitcoin treasury of 1,000 BTC, reinstating its prior goal set last November.
Recently, Genius Group purchased an additional 24.5 BTC, bringing its total holdings to 85.5 BTC acquired for approximately $8.5 million, at an average price of $99,700 per Bitcoin. The court decision reversed a prior ban that had prevented the company from using investor funds for Bitcoin purchases due to restrictions related to selling shares and raising capital.
The company's CEO, Roger James Hamilton, emphasized the importance of this move as part of their strategy to educate students about AI, Bitcoin, and community, and to prepare the workforce for the digital economy. Genius Group’s stock is currently trading below its value at the beginning of the year, highlighting ongoing challenges despite the Bitcoin purchase resumption.
This development reflects a broader trend of corporations increasingly adopting Bitcoin as a strategic reserve asset, following in the footsteps of firms like MicroStrategy, which hold large Bitcoin treasuries. The ruling signals possible shifts in corporate Bitcoin strategies and may influence regulatory landscapes as companies navigate court decisions impacting crypto investments.