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bitcoin
Bitcoin (BITCOIN)
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ethereum
Ethereum (ETHEREUM)
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binancecoin
BNB (BINANCECOIN)
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solana
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ripple
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Smarter Web Boosts Bitcoin Holdings with Additional 4 BTC

Highlights:

  • Smarter Web has boosted its Bitcoin treasury by acquiring 4 BTC.
  • The company currently possesses 2,664 BTC at an average purchase value of £82,858.
  • Smarter Web’s treasury policy guarantees a steady accumulation of Bitcoin for long-term growth.

The Smarter Web Company, a technology company listed in London, has expanded its Bitcoin holdings as part of its long-term strategy. The firm bought an additional 4 BTC at a total cost of £331,052. This new acquisition is part of an ongoing, disciplined acquisition of Bitcoin by the company known as “The 10 Year Plan.”

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Smarter Web Expands Bitcoin Holdings

This acquisition has raised the Smarter Web’s total Bitcoin holdings to 2,664 BTC. The purchased 4 BTC were at a unit cost of roughly £82,763 ($108,510). The cumulative estimate of Bitcoin purchases by the firm has now reached £220,733,769. Despite market fluctuations in the cryptocurrency market, the company still regards Bitcoin as the primary asset in its treasury policy.

Moreover, the purchase reinforces Smarter Web’s position as the largest publicly traded UK company holding Bitcoin as an asset. The company’s commitment to Bitcoin highlights its confidence in the currency’s potential to be a major player in the global financial ecosystem.

Smarter Web’s Ongoing Bitcoin Treasury Strategy

The treasury policy of the company is aimed at the constant and steady acquisition of Bitcoin instead of speculative trading. After the adoption of this policy in 2023, Smarter Web incorporated long-term accumulation as a part of its overall financial plan. The aim is to strengthen the company’s balance sheet with a strategic reserve of Bitcoin.

Smarter Web reported a quarter-to-date Bitcoin yield of 1.74% in addition to buying Bitcoin. This yield indicates that the company is not only buying Bitcoin but also efficiently managing its digital assets to be able to generate returns. Smarter Web’s Bitcoin treasury policy is focused on positioning the company as a pioneer when it comes to integrating digital assets into traditional finance.

CEO’s Commitment to Bitcoin’s Future

Despite the current market conditions and with the fall of mNAV, CEO Andrew Webley stressed the long-term view of the company regarding Bitcoin. He pointed out that the recent correction in the market would not change the strategy or the earlier belief concerning the potential of Bitcoin.

Westelly also underscored the company’s unwavering commitment to equity growth. The company recently completed the placement of 407,500 Ordinary Shares, raising a total of £276,781. The proceeds from this equity raise will be channeled into the company’s various corporate strategies, like Bitcoin acquisitions.

The largest Bitcoin treasury firm, Strategy, increased its Bitcoin holdings on November 3rd. The company purchased 397 BTC at a cost of around $114,771 each, thus spending a total of $45.6 million. With this latest purchase, the total Bitcoin holdings for the company have now reached up to 641,205 BTC. In addition, the firm now holds more than 3% of the total Bitcoin supply.

Meanwhile, Bitcoin has seen a decline of more than 2%, trading around $104,735 over the last 24 hours. BTC has formed a descending channel pattern after declining by 15% on the weekly chart. However, its trading volume has seen a surge of 70%, pushing the value to $86 billion.

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