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Bitcoin's violent fluctuations: the entry point before Trump took office?
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$Genius Group (GNS.US)$ Genius Group Limited has initiated the first phase of its Bitcoin treasury plan by allocating $10.0 million in cash towards Bitcoin acquisition as of November 13, 2024. In a move to strengthen its balance sheet, the company also reduced its debt by $5.2 million through early repayment of a promissory note to Alto Master Opportunity Fund, issued in April 2024. Furthermore, Genius Group secured a Temporary Restraining Order (TRO) from the United States District Court for the Southern District of New York, preventing the transfer of 7.4 million ordinary shares and restricting LZGI and its officers from participating in shareholder meetings and voting. The shares were initially issued to LZGI as part of an asset acquisition. The company has chosen Coinbase as its Bitcoin custodian and benefits from Singapore's 0% capital gains tax on Bitcoin holdings. Genius Group plans to continue strengthening its financial position and will report its Bitcoin holdings regularly.
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