TechFlow news, on November 19, according to Cointelegraph, publicly traded company Genius Group Limited (NYSE: GNS) announced today that it has purchased 110 bitcoins for $10 million at an average price of $90,932 per bitcoin, marking the formal establishment of its Bitcoin treasury.
The purchase follows the company's announcement on November 12 of a "Bitcoin-first" strategy, which commits to holding 90% or more of its existing and future reserves in Bitcoin, with an initial target of $120 million worth of Bitcoin. Today's acquisition is the first of what the company intends to be ongoing purchases toward achieving this goal.
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