Genius Group Plans $33 Million Rights Offering
- Genius Group aims to raise $33 million through a rights offering.
- The proceeds will be used to purchase additional Bitcoin for the company’s treasury.
- The company currently holds $35 million in BTC and plans to increase it to $86 million with a $20 million loan.
Publicly-listed artificial intelligence firm Genius Group has announced its intention to raise $33 million for the purpose of acquiring more Bitcoin to add to its BTC treasury.
Genius Group revealed on Jan. 14 that its board of directors had approved a rights offering plan to raise $33 million. The net proceeds from the sale of shares will be utilized to buy additional Bitcoin.
The company is also considering additional financing options, including one or more loans totaling $20 million. With its current BTC treasury at $35 million, successful fundraising through the rights offering and loans could potentially increase Genius Group’s Bitcoin holdings to $86 million.
Bitcoin Strategy in the Corporate World
Genius Group’s decision to expand its Bitcoin treasury aligns with a growing trend among public and private companies to diversify their balance sheets with BTC. This trend gained momentum in 2024, largely influenced by MicroStrategy’s aggressive acquisition of Bitcoin.
MicroStrategy’s strategy has inspired other companies like Metaplanet, KULR Technologies, and various Bitcoin mining firms, with Nasdaq-listed Heritage Distilling recently adopting a similar approach.
While Microsoft shareholders rejected a proposal to add BTC to the tech giant’s treasury, industry experts remain optimistic about the trend. Meta is also facing a similar proposal.
The approval of spot Bitcoin exchange-traded funds in the U.S., including BlackRock’s IBIT holding significant BTC assets, marks a significant development in the past year.
