The US-listed company Genius Group purchased 110 bitcoins for $10 million to establish a bitcoin reserve

ChainCatcher news, the publicly traded company Genius Group Limited (NYSE: 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 follows the company's announcement of a "bitcoin-first" strategy on November 12, which commits to holding 90% or more of its existing and future reserves in the form of bitcoin, with an initial target of $120 million in bitcoin. Today's purchase is the first in a series of ongoing acquisitions the company intends to make to achieve its goal.