The listed company, Genius Group, purchased 110 Bitcoins for 10 million US dollars to establish a Bitcoin reserve
The listed company Genius Group Limited (New York Stock Exchange stock code: GNS) announced today that it has purchased 110 Bitcoins for $10 million, with an average price of $90,932 per Bitcoin. This purchase marks the official establishment of the company's Bitcoin reserve.
It is reported that this purchase was made following the company's announcement of a "Bitcoin First" strategy on November 12th. The strategy promises to hold 90% or more of existing and future reserves in the form of Bitcoin, with an initial target of $120 million in Bitcoin. Today's purchase is the first in a series planned by the company to achieve its goal.
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