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    Genius Group Limited shares surge 66% as it pivots to Bitcoin, investing $120 million

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    Shares in AI firm Genius Group Limited rose by 66% after it announced plans to primarily focus on Bitcoin, with an initial investment of $120 million. The company intends to hold 90% or more of its current and future cash reserves in Bitcoin. It also plans to start accepting Bitcoin payments for its EdTech platform, and to develop an educational series about Bitcoin and other cryptocurrencies. This move followed a shift in Genius Group’s board, which added numerous blockchain and Web3 industry professionals.

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    Artificial intelligence company Genius Group Limited saw its shares rise by 66% in one day after it decided to focus primarily on Bitcoin. This would involve setting aside 90% or more of the company’s current and future cash reserves in Bitcoin, starting with an initial investment of $120 million.

    They announced on November 12 that they would also allow Bitcoin payments for their EdTech platform, plus an educational series about Bitcoin and other cryptocurrencies for students.

    Their shares closed on November 12 up another 66%, shooting from .75 cents to $1.05. The evening saw further trading boosts that put their shares at $1.71.

    “We totally agree with Michael Saylor and MicroStrategy’s argument for public companies to invest in Bitcoin as their main cash reserve,” shared Thomas Power, a director at Genius Group.

    Founded in 2002 in Singapore, Genius Group uses AI in their educational tech, aimed not just at students of all levels, but also entrepreneurs, businesses, and government. In 2022, they became a listed company on the NYSE American.

    The company’s decision to emphasize Bitcoin comes after a shift in their board, which added many blockchain and Web3 industry professionals.

    “Genius Group is committed to preparing all students for the groundbreaking technologies of the future,” Power added. “We believe Bitcoin will be the primary value storage that will drive these advanced technologies.”

    The company’s approach follows the lead of Michael Saylor’s MicroStrategy, a firm now in possession of over 279,420 Bitcoin, valued at about $24.5 billion. Other companies that started holding Bitcoin in their own cash reserves include Semler Scientific and Metaplanet, each owning over 1,000 Bitcoin.

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