The Genius Group Resumes Expansion of Bitcoin Reserve After Court Ruling
According to PANews, the Genius Group, an educational company in the field of artificial intelligence listed on NYSE American under the symbol GNS, has resumed its efforts to build a Bitcoin reserve after a U.S. appeals court lifted a previous order. The company recently increased its holdings by 24.5 Bitcoin, bringing its total to 85.5 Bitcoin, at a total cost of $8.5 million and an average price of $99,700 per Bitcoin. This represents a 40% increase in their Bitcoin holdings.
The Genius Group has reaffirmed its commitment to reach a target of 1,000 Bitcoin by November 2024. In February 2025, the company owned 440 Bitcoin but had to sell most of its holdings between February 14 and May 6 due to a temporary court order. In response, the Genius Group filed an amended lawsuit under RICO in the Southern District of Florida.
The company plans to launch a Bitcoin Academy by the end of May, featuring prominent figures such as Saifedean Ammous, author of "The Bitcoin Standard." CEO Roger Hamilton confirmed that rebuilding the Bitcoin reserve is a crucial part of the company's development strategy for 2025, which aims to enhance artificial intelligence, Bitcoin, and community education.
