BlockBeats News, November 19, Publicly traded company Genius Group Limited (New York Stock Exchange ticker: GNS) announced today that it has purchased 110 bitcoins for $10 million, at an average price of $90,932 per bitcoin. This purchase marks the company’s official establishment of a Bitcoin reserve.
It is reported that this purchase comes after the company’s announcement of a “Bitcoin-first” strategy on November 12, pledging to hold 90% or more of its existing and future reserves in Bitcoin, with an initial target of $120 million in Bitcoin. Today’s purchase is the first in a series of planned ongoing purchases by the company to achieve its goal.