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bitcoin
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Smarter Web Adds 275 Bitcoin, Total Holdings Reach 1,275 BTC

Highlights:

  • Smarter Web purchases 275 BTC, and the total investment now exceeds £100 million in BTC.
  • Firm’s Bitcoin strategy drives 31,263% growth, aligned with long-term treasury goals.
  • The company’s 10-Year Plan positions Bitcoin as a core asset for inflation protection and value.

On July 11, Smarter Web Company, a London-listed Bitcoin investment firm, announced it had bought 275 more Bitcoins. The company paid an average price of £79,563 (about $108,182) per Bitcoin, spending around £21.88 million in total. With this latest purchase, Smarter Web now owns 1,275 BTC, bought at an average price of £78,516 (about $106,719), with a total investment of about £100.1 million.

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This new purchase comes just days after Smarter Web bought 226.42 BTC on July 7, which brought its total to 1,000 BTC. At that time, the company said its Bitcoin investment had grown by 26,242% this year. With the new 275 BTC added, that number has now jumped to 31,263%, as Bitcoin hits a record high of $118,000 and continues to rise.

Smarter Web Doubles Down on Bitcoin with 10-Year Investment Strategy

The company’s latest Bitcoin purchase is part of its “10-Year Plan,” which aims to use Bitcoin to protect against inflation and as a long-term investment. Smarter Web sees Bitcoin as a key way to protect value and an important part of the future of money. Since 2023, the company has been accepting BTC as payment from customers. After that, it started building a Bitcoin treasury. 

In April this year, it also began a Bitcoin treasury strategy, using extra cash to regularly buy more Bitcoin. CEO Andrew Webley strongly supports the company’s BTC strategy. He has said in the past that Bitcoin is important for the long-term and plays a key role in the company’s plans for future growth.

More public companies are now adding Bitcoin to their treasuries to improve financial strength. As per bitcointreasuries.net, 143 listed firms currently hold Bitcoin worth $93.3 billion in total.  At the same time, some businesses are also starting to invest in other cryptocurrencies like Ethereum (ETH), Ripple (XRP), Solana (SOL), and Binance Coin (BNB).

Smarter Web’s Dual Growth Plan

Smarter Web offers hosting, web design, and digital marketing services. Clients pay a setup fee and can choose between yearly hosting or monthly marketing plans. The company plans to grow by gaining new customers and also by buying other businesses. With £31 million still in cash, the company has plenty of room to buy more Bitcoin in the future.

The company also gave a warning to investors, noting that Bitcoin is risky. In the UK, Bitcoin is not regulated, and its price can change a lot very quickly. Smarter Web said its Bitcoin holdings are not protected by the Financial Services Compensation Scheme because they are not regulated by the FCA. Still, the company’s board believes Bitcoin is a good way to store value.

Bitcoin reached a record high of $118,403 early Friday, driven by rising interest from institutions and positive developments across the crypto space. At the time of reporting, it was trading at $117,934, up 6.34% over the past 24 hours. This upward movement also lifted other leading cryptocurrencies, helping push the total market cap up by 4% to $3.4 trillion.

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