Genius Group (GNS), a publicly listed U.S. company, said it has resumed buying Bitcoin for its treasury, purchasing 10 BTC for about $854,000 between Oct. 2 and Oct. 5 at an average price of $85,364.
The purchase came after the U.S. Court of Appeals for the Second Circuit on Aug. 31 lifted a preliminary injunction that had prevented the company from issuing shares, raising capital and buying Bitcoin.
Next step in a $1.2 billion dual-treasury plan
According to the company, the latest purchase is the next step in executing its $1.2 billion dual-treasury capital plan. The plan was announced on Aug. 27 and targets $827 million in Bitcoin holdings and $800 million in AI assets by fiscal year 2031, with total assets reaching $2 billion.
Genius Group said it plans to continue accumulating Bitcoin while also increasing its holdings of AI stocks.
Funding sources outlined by the company
The company said it expects to fund the dual-treasury purchases through operating cash flow, its previously announced perpetual preferred securities issuance program and an at-the-market, or ATM, equity issuance mechanism, with the stated goal of increasing net asset value per share.
It also said it currently has no plan to use debt financing to buy assets or to pledge its Bitcoin and AI stock holdings as collateral.
CEO comments on the latest purchase
Chief Executive Officer Roger James Hamilton said the purchase was limited in size, but it marked the restart of the company’s Bitcoin accumulation strategy.