Several corporate Bitcoin acquisitions were announced at the beginning of the week, with Genius Group amassing an additional 194 BTC.
Genius Group, a technology company listed on the New York Stock Exchange (NYSE), has intensified its efforts to establish a Bitcoin treasury. As previously disclosed, the AI-powered organization acquired $2.2 million in the coin. It disclosed that it acquired this Bitcoin at an average price of $92,728.
Boosts from the Treasury Reserve, Genius Group, and Bitcoin
According to the announcement, the company has acquired a total of 194 Bitcoin units, estimated to be worth $18 million. It reiterated its November update by confirming that 90% of its future reserves will be allocated to BTC. The Bitcoin education organization also stated that it continues to adhere to its initial goal of allocating $120 million to the cryptocurrency.
The company has invested an average of $2 million per week in the coin since purchasing $10 million last month to maintain this Bitcoin treasury strategy. The company has declared its dedication to a Bitcoin-first strategy in 2025 despite operating an AI-powered education platform.
In addition to Genius Group, corporate entities are rapidly adopting Bitcoin. MicroStrategy also acquired 21,550 BTC for $2.1 billion, as previously reported by Coingape. The company’s most recent acquisition has enabled it to increase its total holdings to 423,650 BTC, which it acquired for $25.6 billion.
MicroStrategy is currently one of the most prolific enablers of Bitcoin, as it effectively controls approximately 2% of the total Bitcoin supply.
Meanwhile, Riot Platforms is engaging in a game of cat and mouse with Genius Group and MicroStrategy, as it has disclosed its intention to raise $500 million to acquire additional Bitcoin. Other industry players have raised funds to purchase Bitcoin in the past year, and this action is consistent with their approaches.
The Adoption of Bitcoin by Nation States and BTC
As Wall Street firms invest significantly, nations also participate in the BTC market. El Salvador, like MicroStrategy, was the first to implement this initiative following the legalization of Bitcoin in 2021. Since that time, the nation’s Bitcoin investments have been exceedingly profitable.
In addition, President-elect Donald Trump has pledged to establish a strategic Bitcoin reserve for the nation. He has initiated the gathering of a crypto advisory council to assist in attaining this objective.
The appointment of David Sacks as Crypto Czar has indicated that the upcoming administration may adhere to its election promises. According to experts, other nations may also enter the market if the United States ultimately supports Bitcoin.