Genius Group Resumes Bitcoin Purchases After Legal Clearance
- Genius Group has acquired Bitcoin again, purchasing a total of 10 BTC.
- The purchase, made between October 2 and October 5, cost approximately $854,000.
- An average price of $85,364 was paid per Bitcoin during this transaction period.
- A prior court injunction had restricted the company’s ability to raise funds and buy Bitcoin.
- The U.S. Court of Appeals for the Second Circuit vacated this injunction on August 31.
Genius Group’s recent Bitcoin purchase follows the removal of legal restrictions that had previously halted its treasury strategy involving cryptocurrency acquisitions. The company aims to integrate Bitcoin as a key component of its broader financial strategy alongside AI assets.
This move marks a strategic resumption rather than just an isolated trade, indicating Genius Group’s commitment to its long-term financial goals involving Bitcoin. The latest acquisition is part of a deliberate capital-allocation plan despite inherent market risks associated with cryptocurrency volatility. (Source)
