Genius Group Announces $827 Million in Bitcoin Purchases
Singapore-based Genius Group (NYSE American: GNS) plans to acquire $827 million worth of Bitcoin over the next five years. This plan is part of a dual treasury strategy, which also includes an additional $800 million for AI investments. The company aims for total assets of $2 billion by 2031.
The acquisition will be financed through a Perpetual Preferred Security from a $1.2 billion shelf program. However, the first tranche is only $12.5 million.
To put this in perspective, the targets are strikingly disproportionate to the company's size. Its net assets are $106.6 million, and its stock is trading at $0.18. Whether the company can actually raise the necessary capital remains to be seen.
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