EU and US could reach trade deal this weekend - Reuters
SINGAPORE - Genius Group Limited (NYSE American: GNS), an AI and Bitcoin-focused education provider trading at $0.38 per share, has announced the expansion of its Bitcoin Treasury by 40%, purchasing an additional 24.5 Bitcoin. According to InvestingPro analysis, the company’s stock has shown significant volatility, with a beta of 10.44, while currently trading below its Fair Value estimate. InvestingPro subscribers have access to 16 additional key insights about GNS, including detailed financial health metrics and growth projections. This acquisition follows a favorable U.S. Court of Appeals ruling that permits the company to resume Bitcoin purchases.
The company’s total Bitcoin holdings now amount to 85.5, acquired at an average price of $99,700 per Bitcoin, representing an investment of $8.5 million. With a current market capitalization of $27.18 million and a current ratio of 3.65, Genius Group is reaffirming its objective to accumulate a Bitcoin Treasury of 1,000 units, a goal initially set in November 2024.
Genius Group had quickly built its Bitcoin holdings to 440 by February 2025. However, a Temporary Restraining Order and Preliminary Injunction issued on February 14 halted further acquisitions until May 6, when the injunction was stayed pending an appeal hearing. During the injunction period, the company was compelled to sell the majority of its Bitcoin holdings. Genius Group has since sought damages in an amended RICO lawsuit filed in the U.S. District Court, Southern District of Florida.
The company is now focusing on restructuring its operations and rebuilding its Bitcoin reserves, while managing a challenging financial position with revenue declining 65.69% in the last twelve months. This includes launching the Bitcoin Academy at the end of May, featuring prominent Bitcoin advocates such as Saifedean Ammous, the author of "The Bitcoin Standard." For deeper insights into GNS’s financial health and growth prospects, access the comprehensive Pro Research Report available exclusively on InvestingPro.
Roger Hamilton, CEO of Genius Group, expressed optimism about rebuilding shareholder value and fulfilling the company’s 2025 vision. He emphasized Genius Group’s commitment to educating students on the "ABCs of the Future: AI, Bitcoin, and Community," and preparing for a digital economy and workforce.
Genius Group serves 5.8 million users across over 100 countries, offering AI-powered education and acceleration solutions. Its offerings include a combination of AI training, tools, and talent through an online digital marketplace and the Genius City model.
This news is based on a press release statement and should be considered in the context of the company’s forward-looking statements, which involve inherent risks and uncertainties. The company advises readers not to place undue reliance on these statements and accepts no obligation to update them.
In other recent news, Genius Group Limited has filed an amended RICO lawsuit seeking over $750 million in damages, targeting key figures associated with LZGI International, Inc. This legal action follows a ruling that temporarily lifted restrictions on the company’s financial activities, allowing it to resume operations like raising funds and selling shares. Additionally, the company is pursuing a separate lawsuit for $450 million in damages, alleging fraud and extortion aimed at defrauding Genius Group and its shareholders. The company has also announced a share buyback program approved by 97.5% of its shareholders, aiming to repurchase up to 20% of its shares within legal limits. Meanwhile, Genius Group is downsizing its Bitcoin Treasury due to legal constraints that have halted its financing activities. The sale of Bitcoin is a measure to maintain liquidity amid ongoing legal challenges. The company’s CEO, Roger Hamilton, has expressed concerns over the legal hurdles impacting their operations. These developments are part of Genius Group’s broader efforts to navigate legal disputes and protect its financial stability.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.