Genius Group Limited announced its board has adopted a “Bitcoin-first” strategy, making Bitcoin its primary treasury reserve asset. The NYSE American-listed education company plans to allocate 90% or more of its current and future reserves to Bitcoin.

The company aims to utilize its $150 million ATM facility to acquire an initial target of $120 million in Bitcoin as a long-term treasury reserve asset. The strategy includes launching a Web3 Wealth Renaissance education series and enabling Bitcoin payments globally on its Edtech platform.

“Genius Group is focused on educating students for the exponential technologies of the future. We see Bitcoin as being the primary store of value that will power these exponential technologies,” said Thomas Power, Genius Group Director and former Board Director at Team Blockchain.

Ian Putter, Genius Group Director and former Head of Blockchain Domain at Standard Bank, noted:

“Being a Singapore-incorporated company, with 0% capital gains tax, gives us an additional advantage in our Bitcoin-first strategy.”

Roger Hamilton, Genius Group’s CEO, reported that the company has faced market manipulation challenges, with its share price dropping below $0.60 and market capitalization falling to $12 million, despite reporting audited annual revenue of $23 million and total assets of $43 million in 2023.

The company has pending litigation against alleged market manipulators, with estimated damages exceeding $250 million. Genius Group plans to detail its AI-powered, Bitcoin-first strategy in a GeniusLIVE podcast scheduled for November 19, 2024.