Genius Group, the Singapore-based education company listed on NYSE American, has set out a five-year capital plan to fund an $827 million bitcoin treasury and an $800 million AI portfolio, aiming for $2 billion in total assets by fiscal 2031. The plan, announced on Aug. 27, relies on perpetual preferred stock rather than common equity, a route the company says limits dilution for existing shareholders. Management has begun talks with investment banks that specialize in preferred securities and digital asset treasury financing, though final terms and timing remain open.
Proceeds are to be split three ways: the bitcoin treasury, the AI treasury, and a dollar reserve meant to cover roughly eighteen months of preferred dividends. That reserve is not decoration. Preferred shares carry a fixed dividend bill, and missing it would undermine the entire structure, so the company has ring-fenced cash for it from the start.
CEO Roger James Hamilton framed the plan around valuation. “Genius Group currently trades at a price-to-book ratio of 0.29x,” he said in the announcement. “We believe we are in a generational cycle that Genius Group and our dual treasury is designed to harness, for the benefit of our students and shareholders.”
How the company got here
The bitcoin pillar dates to November 2024, when the board adopted a “bitcoin-first” policy committing 90% or more of reserves to the asset. The company bought 319.4 BTC for $30 million by the end of that year at an average price of $93,919, and pushed its holdings to 200 bitcoin by July 2025 at an average of $106,812. It even reported a 1,649% BTC Yield figure for the fourth quarter of 2024, a metric borrowed from the Strategy playbook that measures accretion of bitcoin per share.
Then the company changed course. It exited its bitcoin positions entirely and said it would restart purchases in the fourth quarter of 2026, timing the re-entry to what it calls the historic four-year halving cycle low, with an anticipated uptrend through 2029. That makes Genius Group one of the few listed treasuries to have sold out completely and planned a deliberate re-entry at a cycle point it chose in advance.
The AI treasury, authorized in May 2026, is the smaller and newer pillar. Its deployment plan contemplates three phases totaling $100 million across pre-IPO funds, listed AI infrastructure companies and second-order investments. The August re-pricing the company mentions suggests some of those positions have already moved in value. Holdings named in company materials include positions tied to Anthropic and Anduril exposure through pre-IPO vehicles.
The two pillars at a glance
| Pillar | Target | Status |
|---|---|---|
| Bitcoin treasury | $827 million | Purchases to restart in Q4 2026 |
| AI treasury (AGI Infinity) | $800 million | Authorized May 2026, first $100 million in three phases |
| Total assets | $2 billion | Target by FY2031 |
Why preferred stock
Perpetual preferred capital has become the standard funding tool for digital asset treasury companies. More than $16 billion has been raised through the method since January 2025, according to the company’s announcement, and the combined market value of bitcoin-backed preferred securities now exceeds $13 billion. Strive Asset Management raised over $150 million through its SATA perpetual preferred to fund its own bitcoin treasury.
The structure matters for a company trading well below book value. Selling common shares at 0.29x book to buy bitcoin would destroy value per share on paper with every issuance. Preferred shares, which sit higher in the capital structure and pay fixed dividends, let a company add assets without issuing common stock at a discount. The trade-off is the dividend obligation, which is why the plan reserves eighteen months of payments in cash before a single bitcoin is bought.
The company also holds a buyback mandate it says will let it reduce issued share capital over the coming twelve months, another lever aimed at lifting net asset value per share rather than simply growing the balance sheet.
Timing questions
The plan leans on a bet that bitcoin is near a cycle bottom. Bitcoin trades near $81,000, up about 12% over the past month but roughly 35% below its September 2025 high of $126,080. The asset has recovered sharply over the past week, closing Friday near $81,800 after clearing its 200-day moving average, but the year remains deeply negative for holders.
Corporate buyers have turned cautious elsewhere. Glassnode data shows listed companies added just 5,900 BTC over the past three months, less than 7% of one month’s purchases during the 2025 peak, and the corporate cohort sits underwater on much of its inventory. Genius Group is swimming against that current, planning to buy into a market where most listed treasuries have gone quiet.
Execution risk is real. The company is a small-cap with a history of pivots, and the plan works only if preferred investors accept the dividend stream of a company whose core education business funds none of it. The announcement itself concedes that details are subject to confirmation, and no pricing or size has been disclosed for the first offering.
What to watch
Three markers will tell whether the plan is more than a slide deck. The first is a priced preferred offering, which would confirm that the investment bank talks produced real demand. The second is the Q4 bitcoin purchase the company has scheduled for itself, the re-entry it promised after selling out. The third is the AI treasury’s first $100 million deployment, which has been authorized since May but not yet fully spent.
Analysts watching the digital asset treasury sector have noted that the preferred model works best at scale, where a large asset base supports the fixed payments. Whether a company with a $2 billion target and a much smaller current footprint can price the paper attractively is the open question the investment bank talks will answer. The first priced offering, whenever it comes, will show whether the market buys the dual-treasury story or discounts it like everything else trading below book.