INSUBCONTINENT EXCLUSIVE:
Singapore-based artificial intelligence-driven edtech firm Genius Group added 20 BTC to its Bitcoin treasury last week as part of its
acquired 20 Bitcoin (BTC) on Friday, boosting its total holdings to 200 BTC
Bitcoin traded between $117,000 and $120,600 on the day, according to Nansen data.The announcement said the 20 BTC were acquired at an
average price of $106,812 per BTC, 9.5% to 12.9% lower than market price
With a total purchase price of $2.14 million for BTC worth $2.35 million at the time of writing, Genius has already made a profit of
The company bought 20 BTC on July 2, followed by 28 BTC on July 8 and 32 BTC on July 13, according to data from BitcoinTreasuries.NET
Genius Group Bitcoin holdings chart
plans to increase its Bitcoin holdings to 1,000 BTC by the end of 2025 and reach 10,000 BTC within the next two years
The company also said the passage of the Government Evaluation of New Innovations in the US Act, known as the GENIUS Act, will help it
accelerate its blockchain-based education initiatives
The company said it plans to apply for a permitted payment stablecoin issuer (PPSI) license under new US rules and a separate license to
distribute any potential proceeds from two lawsuits seeking combined damages of more than $1 billion.Tokenized merit rewards and stablecoin
ambitionsGenius Group said the GENIUS Act will allow it to expand Genius Academy, its blockchain-powered learning platform
The academy awards students with Genius Education Merits (GEMs), each equivalent to one Satoshi (one millionth of a Bitcoin).GEMs can be
earned and redeemed like airline miles but are not exchangeable for fiat or crypto
If approved for the PPSI license, Genius Group said it plans to convert GEMs into a stablecoin usable as digital currency within its
using traditional financial infrastructure
With a PPSI license, the firm aims to allow direct stablecoin payments to digital wallets instead
Genius Group is also developing onchain courses and certifications
If approved as a DASP, the company said these credentials would be recognized as regulated digital assets, giving educators blockchain-based
intellectual property rights.The company also plans to host in-person accelerators and retreats, where participants can use GEMs or its
future stablecoin to pay for food, lodging, entertainment and other services
Related: GENIUS Act blocks Big Tech, banks from dominating stablecoins: Circle execGenius Act to benefit EthereumThe GENIUS Act creates a
national licensing framework for stablecoin issuers, mandates one-to-one reserves, prohibits unbacked algorithmic stablecoins and subjects
issuers to Anti-Money Laundering rules
It also gives stablecoin holders senior creditor status in case of issuer insolvency.Andrew Keys, the CEO of just-announced yield-bearing
Ether fund Ether Machine, said that Ethereum is the largest beneficiary of the GENIUS Act
In a Monday interview on CNBC, he highlighted that Ethereum allows for the tokenization of assets, including stablecoins.Andrew Keys talking
similar to how most internet searches occur via Google
Magazine: Bitcoin vs stablecoins showdown looms as GENIUS Act nears
