Genius Group Limited has made headlines again amid its focus on Bitcoin (BTC). The company, known for its AI-powered educational initiatives with a Bitcoin-first approach, has set its sights on expanding its digital asset portfolio.
With an ambitious $33 million rights offering, Genius Group announced its plans to boost its Bitcoin accumulation strategy.
This move is can bolster the company’s balance sheet and position in the cryptocurrency market.
The Genius Group Bitcoin Accumulation Plans
Genius Group’s latest plan to raise $33 million through a rights offering highlights its dedication to Bitcoin as a reserve asset.
This initiative will allow its shareholders to acquire additional stakes at a subscription price of $0.50 per share.
The offering will begin on January 23, allowing shareholders to purchase one ordinary share for every share they currently hold.
– Advertisement –
To be eligible, shares must be recorded by January 24, 2025. The offering also comes with an over-subscription right.
This means shareholders who fully exercise their basic subscription rights can purchase additional shares pro-rata from unsubscribed shares.
Shareholders who choose not to exercise their rights can sell them on the open market. This initiative allows investors to participate in or profit from the offering in different ways.
Notably, the offering will expire on February 14, 2025, unless the company extends it.
Interestingly, CEO Roger Hamilton plans to buy 500,000 more shares, increasing his total to about 6.8 million. This will mark 10.3% of the company.
If the offering is fully subscribed and the company raises $20 million in loans, Genius Group will grow its Bitcoin Treasury.
The company will use the net proceeds of the offering, likely to reach up to $33 million, solely to buy Bitcoin.
With this rights-offering strategy, Genius Group positions itself as one of the major corporate Bitcoin buyers.
Previous BTC Buyup History
This new rights offering builds on Genius Group’s consistent track record of accumulating Bitcoin.
The company has demonstrated a strong commitment to digital assets by maintaining a growing Bitcoin Treasury.
The public-listed company has grown its Bitcoin reserve to 372 units, worth $35 million. On January 10th, it acquired $5 million worth of Bitcoin at an average price of $94,047 per BTC.
This followed a $10 million Bitcoin purchase made in December.
By adding more Bitcoin to its portfolio, Genius Group is signaling its confidence in the asset’s ability to hedge against inflation.
This move aligns with the broader corporate strategies. Companies increasingly view Bitcoin as a speculative asset and a useful tool for future growth and stability.
MicroStrategy and Other Corporate Buyers
Genius Group is part of a growing trend of more companies dabbling in cryptocurrency. MicroStrategy, a business intelligence company, now ranks as the top corporate holder of Bitcoin, with over 450,000 BTC.
The Virginia-based software intelligence firm has made Bitcoin a key part of its business plan, transforming its financial strategy. MARA Holdings has recently lent out a portion of its Bitcoin holdings after a period of focused investment.
Other companies, like Semler Scientific and Metaplanet, have also adopted Bitcoin as part of their investment strategy.
Companies like Riot Platforms, Tesla, and Block Inc. use Bitcoin to hedge against inflation and fiat devaluation.
Even though Tesla sold some of its Bitcoin, it remains one of the top 10 corporate holders..
