Genius Group Stock Gains After Snagging XD Academy In Bitcoin Education Push: Retail Opts For Caution
In early November, the company pivoted its treasury strategy to include Bitcoin on its balance sheets, similar to MicroStrategy’s approach
FollowShares of Genius Group jumped over 3% in mid-day trading on Friday after the ed-tech platform said it would buy Bitcoin and blockchain learning platform, XD Academy, even as retail sentiment was didn't change much.
The platform was formerly known as BitMEX Academy and was a part of the BitMEX cryptocurrency exchange before being spun off into a separate entity.
According to the release, Genius Group plans to integrate XD Academy’s modules and courses into its platform. XD Academy founder and CEO Lawrence Linker will assist in building faculty and courses for Genius Group’s Bitcoin Academy.
However, the stock opened in the red on Friday morning, only clocking in an increase after Bitcoin started to rise again and crossed the $100,000 threshold.
Genius Group Sentiment and Message Volume on Dec 6 as of 1:00 p.m. ET | Source: Stocktwits
Retail sentiment around Genius Group remained muted in the ‘neutral’ territory while retail chatter dipped to ‘normal’ from ‘high’ a day ago.
Many users on Stocktwits pointed out that while the stock drops when Bitcoin declines, it doesn't experience a proportional increase when Bitcoin rises.
Genius Group pivoted its treasury strategy to include Bitcoin on its balance sheets akin to MicroStrategy’s approach in early November. But, not all retail investors are on board with that plan.
Many other companies have done the same since President-elect Donald Trump’s victory in the 2024 U.S. election, including Rumble, Acurx Pharmaceuticals, and Worksport.
Genius Group currently has 172 Bitcoin in its coffers, valued at around $17 million. According to Bitcoin Treasuries, Genius Group has already locked in 3.5x unrealized gains on its investment.
Despite the pivot, the company’s shares are still down over 86% year-to-date.
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