Genius Group Dumps Bitcoin Treasury Amid Revenue Surge
Cointelegraph
Genius Group liquidated its Bitcoin holdings to pay off debt despite a significant revenue increase, reversing its prior 'Bitcoin first' strategy.Summary
Genius Group sold its remaining Bitcoin in Q1, amounting to 84 BTC worth approximately $5.7 million, to address debt obligations. This decision contrasts with their November 2024 commitment to hold 90% of reserves in Bitcoin and follows a period where they were temporarily restricted from expanding their treasury. The liquidation occurred alongside a strong financial performance, with Q1 revenue up 171% year-on-year to $3.3 million and a net profit of $2.7 million. Other companies, including MARA Holdings, Bitdeer, Cango Inc., and GD Culture Group, have also recently reduced their Bitcoin holdings, while Michael Saylor’s Strategy continues to accumulate Bitcoin, dominating purchases this year.
(Source：Cointelegraph)