Genius Group Boosts Bitcoin Treasury 30% With $1M Profit In Q4
- Genius Group bought 42 BTC at an average $89,700, lifting its treasury holdings to 180 BTC. The 30% increase generated $1.0 million in realized Bitcoin profit in the fourth quarter. The company cut flexible-term debt by $1.5M to $7.9 million.
GNS announced on Thursday that it purchased 42 Bitcoin (BTC) between November 21 and December 3 at an average cost of $89,700 per BTC. This brings their total treasury holdings to 180 BTC, up from 138 BTC, a 30% increase.
Genius said these purchases, combined with prior trades, led to a cumulative realized profit of $1 million on its Bitcoin transactions in the fourth quarter (Q4). That figure includes gains from the sale of 62 BTC earlier at an average price of $108,000, plus gains from the recent repurchase at a lower cost.
Genius Group's stock fell 2.5% in morning trade. On Stocktwits, retail sentiment around the company remained in 'bearish' territory over the past day.
GNS retail sentiment and message volume on December 4 as of 12:44 p.m. ET | Source: Stocktwits
Meanwhile, Bitcoin was trading at about $92,962.20, up 0.51% over the past day. On Stocktwits, retail sentiment towards Bitcoin remained in 'bearish' territory through the previous day.
Bitcoin retail sentiment and message volume on December 4 as of 12:44 p.m. ET | Source: Stocktwits
Company Slashes Debt to $7.9M
GNS also reported progress on its balance sheet. The company said it has reduced its flexible-term debt by $1.5 million, lowering total debt to $7.9 million from $9.4 million. According to the announcement, all liens on its assets from earlier debt arrangements have also been released.
By raising its Bitcoin reserves while locking in profit, Genius appears to double down on its“Bitcoin-first” treasury strategy without diluting shareholders through new equity. The buyback happens amid a company's push to reduce debt and potentially fund future share repurchases or acquisitions.
GNS' stock has gained nearly 2% this year but is down more than 18% in the last 12 months.
Read also: Bitcoin's Price Could Fall To $75K Amid Crypto Sentiment Split, Warns Wolfe Research: Report
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