Genius Group announced a $33 million rights offering.
The company plans to use the net proceeds from the sale to purchase Bitcoin.
Genius Group holds $35 million in BTC and an additional $20 million loan plan could increase its holdings to $86 million.
Genius Group, a publicly traded artificial intelligence company, plans to raise $33 million to purchase additional Bitcoin (BTC) as part of its BTC Treasury.
Genius Group announced on January 14 that its board of directors has approved a $33 million stock allocation plan. The company plans to use the net proceeds from the stock sale to purchase more Bitcoin.
As well as the equity issue, Genius Group is also looking to raise additional capital, which will total $20 million through one or more loan options. The company’s current Bitcoin holdings are approximately $35 million, which could increase Genius Group’s total Bitcoin holdings to $86 million if the public offering and financing options are successful. It means that.
bitcoin strategy
Genius Group’s AI-powered move to add to its Bitcoin vault comes amid a widespread surge in public and private companies buying BTC to add to their balance sheets. This trend gained momentum in 2024 following a massive expansion effort by BTC MicroStrategy’s largest corporate holder.
MicroStrategy’s handbook, which has influenced other companies such as Metaplanet, KULR Technologies, and multiple Bitcoin mining companies, is now a major topic of conversation in boardrooms. Nasdaq-listed Heritage Distilling recently adopted a Bitcoin strategy.
Even though Microsoft shareholders voted against a proposal that would have forced the tech giant to add BTC to its treasury, experts are more optimistic than they were earlier. Mehta faces similar proposals.
The approval of a spot Bitcoin exchange-traded fund in the US, where BlackRock’s IBIT currently holds billions of dollars in BTC, was also a major development in the past year.
