Genius Group Expands Cryptocurrency Holdings
Genius Group, a Singapore-based edtech company harnessing artificial intelligence, has significantly expanded its cryptocurrency holdings, doubling its Bitcoin reserves to a total of 200 BTC in a strategic move aimed at reaching 10,000 BTC in the long run. This announcement was made on Tuesday, revealing that the firm acquired an additional 20 BTC on July 18 at an average price of $106,812 each, a figure notably lower—by about 9.5% to 12.9%—than the prevailing market rates of between $117,000 and $120,600 on that day, according to data compiled by Nansen. At the time of this acquisition, the total purchase amounted to approximately $2.14 million, with the BTC valued at around $2.35 million, resulting in an immediate profit of about $216,000, or nearly 9.8%.
Future Plans and Legislative Support
While the company did not provide insights into how it secured this advantageous pricing, plans are in place to escalate its holdings to 1,000 BTC by the conclusion of 2025 and to reach the ambitious target of 10,000 BTC within two years. A proposed piece of legislation in the United States, termed the GENIUS Act, is expected to accelerate Genius Group’s blockchain initiatives in education. The firm also intends to apply for a Permitted Payment Stablecoin Issuer (PPSI) license under forthcoming regulations in the U.S. and a separate authorization to function as a non-bank digital asset service provider (DASP).
Investment Strategy and Blockchain Aspirations
This latest investment in Bitcoin follows a previous announcement made by Genius Group in late June regarding plans to allocate potential gains from two ongoing lawsuits, collectively seeking over $1 billion in damages. Notably, Genius Group had increased its Bitcoin treasury by more than 50% just weeks earlier by acquiring an additional 34 BTC.
In an effort to further its blockchain aspirations, Genius Group has indicated that the GENIUS Act will facilitate the expansion of Genius Academy, its innovative platform that rewards learners with Genius Education Merits (GEMs)—each representing one Satoshi, or one millionth of a Bitcoin. The GEMs function similarly to airline mileage rewards, yet they cannot be converted into fiat currency or other cryptocurrencies. If granted the PPSI license, Genius Group envisions transforming GEMs into a stablecoin that can operate as a currency within its ecosystem.
Currently, the firm relies on traditional financial systems to compensate educators and partners, but with the anticipated PPSI license, it aims to enable direct payments through stablecoins to digital wallets. Genius Group is also exploring the creation of on-chain courses and certifications, which, if approved as a DASP, would gain acknowledgment as regulated digital assets, endowing educators with blockchain-enforced intellectual property rights.
In-Person Events and Regulatory Framework
Additionally, the organization aims to conduct in-person accelerators and retreats, allowing participants to use GEMs or the future stablecoin for various expenses such as food and lodging.
The GENIUS Act brings a structured national framework for regulating stablecoin issuers, mandates that they maintain one-to-one reserves, bans unbacked algorithmic stablecoins, and enforces Anti-Money Laundering legislation. Moreover, it grants stablecoin holders a senior creditor status in the event of insolvency of the issuer.
In a recent interview with CNBC, Andrew Keys, CEO of the newly launched yield-bearing Ether fund Ether Machine, noted that Ethereum stands to gain the most from the GENIUS Act. He emphasized that most stablecoins are developed on the Ethereum network, highlighting Ethereum’s dominance in the emerging tokenization landscape.
