Bitcoin
Genius Group Resumes Bitcoin Purchases Following Injunction Relief
AI-focused education firm Genius Group has acquired 10 Bitcoin for approximately $854,000 after an appeals court lifted legal restrictions on its financing.
Genius Group announced on October 6 that it resumed its Bitcoin treasury strategy by purchasing 10 BTC for approximately $854,000 between October 2 and October 5. The artificial intelligence education firm paid an average price of $85,364 per coin during the acquisition period.
The transaction follows a decision by the U.S. Court of Appeals for the Second Circuit on August 31 to vacate a preliminary injunction that had previously restricted the firm from raising capital, issuing shares, and purchasing Bitcoin.
Management has designated Bitcoin and AI assets as core components of its corporate balance-sheet allocation. The company holds broader long-term asset targets, though current operations remain subject to mark-to-market cryptocurrency price volatility alongside its core education business.
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