Bitcoin Treasuries See Significant Decline Amid Bear Market

Genius Group, an AI-powered company that manages a Bitcoin treasury and offers education services, has made the decision to liquidate its remaining Bitcoin holdings. The move is aimed at paying off $8.5 million in debt, with the company's management citing unfavorable market conditions.

The company had previously committed to holding 90% or more of its reserves in Bitcoin as part of its 'Bitcoin first' strategy. However, it has now sold all its remaining holdings, which were valued at around $5.7 million.

This development is not an isolated incident, with several other companies also offloading their cryptocurrency assets in recent months. MARA Holdings, for example, sold 15,133 BTC worth around $1.1 billion in March, while mining company Bitdeer liquidated its entire stash of 943 BTC and sold newly mined coins.

On the other hand, Stalwart Strategy, led by Michael Saylor, continues to buck the trend and accumulate Bitcoin. The firm has purchased 89,581 BTC worth around $6.1 billion so far this year, with its last purchase being 1,031 BTC on March 23.