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bonk
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bitcoin
Bitcoin (BITCOIN)
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ethereum
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binancecoin
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Smarter Web Boosts Bitcoin Treasury with £2.3M Buy

Highlights:

  • The Smarter Web buys 25 Bitcoin for £2.3M, raising total holdings to 2,550 BTC.
  • The company secured £12M from a major US institutional investor.
  • Its “10-Year Plan” focuses on steady Bitcoin accumulation and digital expansion.

The Smarter Web Company has boosted its Bitcoin treasury with a new acquisition of £2.3 million. The London-listed tech firm bought 25 Bitcoins at an average cost of £92,009 per coin. This move brought its total holdings to 2,550 BTC, which is valued at more than £210 million. The company follows on its ’10 Year Plan’, which is aimed towards Bitcoin accumulation in the long run rather than short-term speculation.

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This acquisition comes on the heels of the company’s successful capital raise in early October, worth £12 million. The funds came in the form of a placing of shares of £9.7 million and a subscription deal of £2.6 million. A US institutional investor contributed a total of £8 million, introduced by Maxim Group LLC. The new funding consequently boosts the company’s financial position and helps it to make more purchases of Bitcoin.

Smarter Web has a disciplined strategy between growth and stability. Its treasury policy focuses on regular Bitcoin purchases, enabling consistent exposure to the asset over time. This approach reflects the company’s belief in the potential of Bitcoin as a long-term store of value.

Building a Long-Term Bitcoin Treasury Strategy

Under CEO Andrew Webley, Smarter Web has a strategic interest in Bitcoin as a treasury reserve rather than as a speculative asset. The company believes that Bitcoin will play a core role in the global finance of the future. Every time it makes a purchase, Smarter Web is strengthening its belief in the value proposition of Bitcoin.

Moreover, the firm reported a year-to-date yield for Bitcoin of 57,439% and a quarter-to-date yield of 0.10%. These numbers stand out for the strong appreciation of Bitcoin in its treasury. The company’s average purchase price is now at £82,547 per Bitcoin. This steady pile-up reveals a calculated approach in dealing with market volatility.

Smarter Web’s commitment to its Bitcoin treasury aligns with its hybrid model for technology. Furthermore, its clients are charged setup fees, annual hosting costs, and optional marketing retainers. These recurring revenues ensure sustainable growth as the Bitcoin holdings perform the role of a strategic reserve.

Strengthening Position in Tech and Digital Assets

Founded as a Web design and digital marketing company, Smarter Web has become a technology enterprise with a focus on Bitcoin. The company incorporates Bitcoin into its treasury and operations. Clients can pay for services in bitcoin, a reflection of the company’s belief in its long-term value.

Beyond organic growth, Smarter Web is looking to acquire other digital businesses in an attempt to grow its customer base. This strategy involves generating a steady income in combination with a forward-looking approach to Bitcoin. By holding more Bitcoin than any other publicly traded UK company, Smarter Web is at the forefront of corporate Bitcoin adoption.

Another UK-listed company, B HODL, added six Bitcoins worth £552,000 on October 6. Its total holdings amounted to 128 BTC, which shows a growing trend among British firms in building digital reserves.

Meanwhile, Michael Saylor’s company, Strategy, leads the pack in Bitcoin accumulation. According to data from Bitcoin Treasuries, the firm holds 640,031 BTC worth around $80 million.

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