Key Points:
- Genius Group aims to raise $33M through a rights issue and $22M in loan financing to boost its Bitcoin reserves.
- If successful, the company’s Bitcoin reserves will jump from $45M to $100M, reinforcing its commitment to BTC.
- The NYSE-listed firm follows the growing trend of corporations accumulating Bitcoin as a hedge against inflation and market uncertainty.
According to GlobeNewswire, Genius Group has announced plans to issue rights shares to its shareholders and intends to use the net proceeds entirely to purchase Bitcoin reserves, with an expected income of up to $33 million from the rights issue.
Genius Group Plans Major Fundraising for Bitcoin Reserves
Genius Group is seeking loan financing of up to $22 million, bringing the total potential funding to $55 million. If the rights issue and loan financing are successful, the company’s BTC reserves will significantly increase from $45 million to $100 million.
This strategic move highlights Genius Group’s commitment to strengthening its BTC reserves amid growing institutional interest in cryptocurrencies. The company’s decision aligns with a broader trend of corporations increasing their Bitcoin reserves to hedge against inflation and economic uncertainty.
Read more: ECB Rejects Bitcoin Reserves, Citing Security and Liquidity Risks
Company Seeks $55M to Double Bitcoin Holdings
The initiative also follows similar actions by other publicly traded companies that view Bitcoin as a long-term store of value. However, market analysts suggest that the success of the rights issue and loan financing will be crucial in determining the company’s future BTC reserves strategy.
Genius Group Bitcoin reserves could more than double, positioning the company as a major corporate Bitcoin holder. Investors will closely watch the execution of the rights issue and the company’s ability to secure additional financing.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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