AI firm Genius Group’s ‘Bitcoin-first’ treasury strategy later surged 66%.

Artificial intelligence firm Genius Group Limited is up 66% in one day after implementing a micro-strategy-simulating “Bitcoin-first” strategy.

The game involves executing 90% or more of the company's current and future holdings in Bitcoin (BTC), offering an initial target of $120 million in Bitcoin (ATM) at $150 million.

Genius Group said on Nov. 12 that it will enable Bitcoin payments for its “EdTech” platform and launch a Web3 course for students to learn about Bitcoin and other cryptocurrencies.

Genius Group (GNS) shares closed up 66.4% at $1.05 on Nov. 12 and continued to rise from $62.86 to $1.71 in afternoon trading, according to Google Finance.

“Michael Saylor and MicroStrategy make a compelling case for public companies to invest in Bitcoin as their primary treasury asset, which we fully accept,” said Thomas Power, Director of Genius Group.

“We believe in our Bitcoin-first strategy, we will be among the first NYSE American listed companies to fully adopt a micro-strategy Bitcoin strategy for the benefit of our shareholders.”

The Singapore-based company was founded in 2002, providing AI-powered educational technology at all levels, from primary, secondary and tertiary students to entrepreneurs, businesses and government. It became a listed company on NYSE American in 2022.

The new policy comes after the board revamped to include several blockchain and web3 industry experts, he said.

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“Genius Group is dedicated to educating students about the assistive technologies of the future. We see Bitcoin as the primary store of value that powers these expressive technologies,” Power added.

The firm whose Bitcoin holdings have now crossed 279,420 Bitcoin, 88,000 with Bitcoin around $24.5 billion, price, follows the path designed by Michael Seiler microstrategy.

Other firms that have joined the Bitcoin treasury bandwagon this year include Semler Scientific and Metaplanet, each holding more than 1,000 bitcoins.

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