KULR and Genius Group increase their Bitcoin holdings

KULR Technology Group and Genius Group Limited, both publicly traded companies, have recently announced significant increases in their Bitcoin holdings, reinforcing their commitment to cryptocurrency as a core component of their financial strategies.

Based in Houston, KULR Technology Group has made a strategic move to enhance its Bitcoin holdings, raising its Bitcoin treasury to 510 BTC. This increase follows a $8 million purchase made at an average price of $101,695 per Bitcoin, bringing the total value of KULR’s Bitcoin holdings to approximately $50 million.

This acquisition is part of KULR’s December 2024 strategy, which aims to allocate up to 90% of its surplus cash reserves to Bitcoin. The company has already seen impressive returns, with its Bitcoin holdings generating a 127% yield year-to-date, based on a performance metric that measures returns relative to outstanding shares. KULR’s decision to bolster its Bitcoin reserves underscores the growing trend of companies incorporating digital assets into their treasury management practices.

Meanwhile, Genius Group, based in Singapore, has also ramped up its Bitcoin acquisitions, increasing its Bitcoin treasury to 420 BTC following a $5 million purchase. The company bought Bitcoin at an average price of $95,912 per Bitcoin.

Genius Group’s “Bitcoin-first strategy” is becoming a cornerstone of its corporate financial planning. Over the past three months, the company has accumulated $40 million in Bitcoin and plans to reach a total of $120 million in Bitcoin reserves. This strategy will be funded through company reserves, an ATM facility, and $19 million in crypto-backed loans from Arch Lending. By committing at least 90% of its reserves to cryptocurrency, Genius Group is positioning itself as a leading proponent of Bitcoin adoption in the corporate world.

Both KULR and Genius Group’s moves reflect a broader trend of corporate adoption of digital currencies, as more companies see the value in holding Bitcoin as a reserve asset. Bitcoin’s growing role in corporate treasuries signals the increasing acceptance of digital assets as part of mainstream financial strategies.

As the world’s largest cryptocurrency continues to be recognized for its potential as a hedge against inflation and a store of value, companies like KULR and Genius Group are leading the way in integrating Bitcoin into their financial ecosystems. The increasing integration of Bitcoin into corporate strategies may pave the way for further growth and institutional interest in cryptocurrency in the future.