KULR, Genius Group expand Bitcoin holdings

Bitget App

Trade smarter

Crypto.News2025/01/20 16:00

By:By Micah ZimmermanEdited by Jayson Derrick

KULR Technology Group and Genius Group Limited, both publicly traded companies, have announced significant increases in their Bitcoin holdings as part of their treasury strategies.

KULR Technology Group, headquartered in Houston, has raised its Bitcoin ( BTC ) treasury to 510 BTC with an additional $8 million purchase.

The acquisitions, made at an average price of $101,695 per Bitcoin, bring the total value of KULR’s Bitcoin holdings to $50 million.

This move aligns with KULR’s December 2024 strategy to allocate up to 90% of its surplus cash reserves to Bitcoin. The company has achieved a year-to-date Bitcoin yield of 127%, using this metric to measure performance relative to its outstanding shares.

KULR has acquired 79.39 BTC for ~ $8 million at ~ $101,695 per #bitcoin and has achieved BTC Yield of 127% YTD. As of 1/21/25, we hodl 510 $BTC acquired for ~ $50 million at ~ $98,039 per bitcoin. $KULR https://t.co/UDdORN90dG pic.twitter.com/jtnQOq8ht6
— Michael Mo (@michaelmokulr) January 21, 2025

Genius Group

Meanwhile, Singapore-based Genius Group has increased its Bitcoin treasury to 420 BTC after a $5 million purchase at an average price of $95,912 per Bitcoin.

Over three months, Genius Group has accumulated $40 million in Bitcoin as part of its “Bitcoin-first” strategy , which commits at least 90% of its reserves to cryptocurrency.

The company plans to eventually hold $120 million in Bitcoin, funded through reserves, an ATM facility, and $19 million in crypto-backed loans from Arch Lending.

Both companies are positioning Bitcoin as a core asset in their financial strategies, signaling a broader trend of corporate adoption of digital currencies.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.

APR up to 10%. Always on, always get airdrop.

Lock now!

European Central Bank President Christine Lagarde said bitcoin is not an option as a reserve asset for the Eurozone’s central bank reserves, citing liquidity, security and regulatory concerns.Meanwhile, the Czech National Bank approved a proposal from Governor Aleš Michl to assess diversifying some of its country’s reserves into bitcoin.

The Block•2025/01/30 21:34

'Inevitable collapse': Trump’s crypto push sparks concern at Paul Singer's Elliott Management: FT

The hedge fund said in a new investor letter that the “inevitable collapse” of the crypto bubble “could wreak havoc,” according to the Financial Times.Elliott’s Paul Singer has never been a fan of crypto, telling WSJ in 2023 that cryptocurrencies are “completely lacking in any value.”

The Block•2025/01/30 21:34