Genius Group resumes Bitcoin buying after US court ruling
Singapore-based AI firm Genius Group has resumed Bitcoin buys after a US court lifted a ban, boosting its BTC treasury by 40% with a 24.5 BTC purchase.
Singapore-based artificial intelligence firm Genius Group has added more Bitcoin to its corporate treasury after being temporarily banned from doing so.
In a May 22 announcement, Genius Group explained that it has resumed accumulating Bitcoin (BTC) following a favorable ruling by the US Court of Appeals. It follows Genius Group being temporarily barred from expanding its Bitcoin treasury after a US court order had banned it from selling shares, raising funds and using investor funds to buy more BTC.
Genius Group announced it increased its Bitcoin Treasury 40% with the purchase of 24.5 BTC, worth around $2.7 million. The company now holds 85.5 BTC acquired for a total of $8.5 million, at an average price of $99,700 per coin.
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