According to ChainCatcher news and GlobeNewswire reports, Genius Group Limited (NYSE American: GNS) announced today that it purchased 28 Bitcoins at an average price of $102,858 on July 7, increasing its Bitcoin reserves by 23% to 148 coins.
Since the U.S. Court of Appeals lifted the preliminary injunction prohibiting the company from purchasing Bitcoin on May 22, Genius Group has achieved a 113% Bitcoin return, doubling its per-share Bitcoin holdings over the past six weeks.
The company has significantly raised its Bitcoin reserve target from 1,000 coins to 10,000 coins, planning to achieve this goal within the next 12 to 24 months.