Genius Group acquires 28 BTC, increasing its Bitcoin reserves to 148

According to ChainCatcher, citing GlobeNewswire, Genius Group Limited (NYSE American: GNS) announced today that on July 7, it purchased 28 bitcoins at an average price of $102,858, increasing its bitcoin reserves by 23% to a total of 148 bitcoins.

Since the U.S. Court of Appeals lifted the preliminary injunction prohibiting the company from purchasing bitcoin on May 22, Genius Group has achieved a 113% return on its bitcoin holdings, more than doubling its per-share bitcoin holdings over the past six weeks.

The company has also significantly raised its bitcoin reserve target from 1,000 to 10,000 bitcoins, with plans to reach this goal within the next 12 to 24 months.