According to PANews, Genius Group, an AI education company listed on NYSE American under the ticker GNS, has resumed its efforts to build a Bitcoin reserve after a U.S. appeals court lifted a previous injunction. The company recently increased its holdings by 24.5 BTC, bringing its total to 85.5 BTC, with a total cost of $8.5 million and an average price of $99,700 per Bitcoin. This marks a 40% increase in their Bitcoin holdings.
Genius Group has reaffirmed its commitment to reaching a target of 1,000 BTC by November 2024. In February 2025, the company held 440 BTC but was forced to sell most of its holdings between February 14 and May 6 due to a temporary court order. In response, Genius Group has filed a revised RICO lawsuit in the Southern District of Florida.
The company plans to launch a Bitcoin Academy by the end of May, featuring notable figures such as Saifedean Ammous, author of "The Bitcoin Standard." CEO Roger Hamilton emphasized that rebuilding the Bitcoin reserve is a crucial part of the company's 2025 development strategy, aimed at advancing AI, Bitcoin, and community education.
