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bitcoin
Bitcoin (BITCOIN)
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ethereum
Ethereum (ETHEREUM)
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binancecoin
BNB (BINANCECOIN)
$782.89 2.70%
solana
Solana (SOLANA)
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XRP (RIPPLE)
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pepe
Pepe (PEPE)
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bonk
Bonk (BONK)
$0.000035 3.57%
bitcoin
Bitcoin (BITCOIN)
$117,367 1.63%
ethereum
Ethereum (ETHEREUM)
$3,745 2.75%
binancecoin
BNB (BINANCECOIN)
$782.89 2.70%
solana
Solana (SOLANA)
$186.58 5.21%
ripple
XRP (RIPPLE)
$3.16 2.62%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000014 5.38%
pepe
Pepe (PEPE)
$0.000013 5.33%
bonk
Bonk (BONK)
$0.000035 3.57%
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Smarter Web Expands Bitcoin Treasury with $26 Million BTC Purchase

Highlights:

  • The UK-based company now holds 1,825 BTC after a recent 225 BTC purchase.
  • Over 278 public firms, including MicroStrategy and BitMine, continue to expand their Bitcoin and Ether reserves.
  • Bitcoin price has dropped below $120,000 as firms continue to invest in crypto despite short-term market fluctuations.

The Smarter Web Company, a UK-based web design agency, has acquired 225 BTC at an average price of $118,076 per coin. The total value of this purchase stands at approximately $26.4 million or £19.6 million. With this move, the company now holds 1,825 BTC, pushing its total Bitcoin value close to $211 million based on current prices.

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This latest purchase brings the firm closer to its 2,000 BTC target. The company still holds about £1 million, or $1.34 million, in cash that it intends to deploy for further Bitcoin acquisitions. Throughout the year, the company’s Bitcoin strategy has produced a 43,787% yield. In the last month alone, it recorded a 189% return from its treasury assets.

Despite the broader market downturn, the company continues to grow its digital holdings. Bitcoin has lost 2.19% over the past 24 hours and now trades at $116,111. Over the last week, the price has dropped by 2.26% but has gained 7.6% on the monthly chart. Meanwhile, the market capitalization of BTC currently stands at $2.31 trillion.

Source: CoinMarketCap

Smarter Web Expands Bitcoin Treasury Amid Growing Corporate Adoption

Smarter Web Company is currently the 26th largest among publicly traded companies globally holding Bitcoin, according to Bitcointreasuries.net. Its approach reflects an increasing demand from firms looking beyond conventional treasury management. There are over 278 publicly traded firms that collectively own 3.6 million BTC. Such companies are increasing their crypto reserves despite the temporary price volatility.

MicroStrategy, headed by Michael Saylor, tops the list with 607,770 BTC valued at around $43 billion. Although the company is currently involved in a class-action suit regarding its Bitcoin strategy, it still uses equity issuance as a method of fundraising to purchase additional BTC. In a similar move, BitMine Immersion Technologies has built the largest Ether holding among public firms, acquiring 566,776 ETH worth $2.03 billion in just 16 days.

Several companies in other parts of the world are adopting similar Bitcoin treasury strategies. H100 Group in Sweden boosted its Bitcoin holdings to 628 BTC after buying over 309 BTC in July. Fragbite Group started its treasury program by purchasing 4.3 BTC using capital raised through interest-free convertible loans. Refine Group, formerly known as Ytrade Group AB, raised 10 million Swedish krona and set aside $1 million to launch its digital assets unit. The Blockchain Group and American Bitcoin Corp also made recent entries into the crypto treasury space with purchases of 22 BTC and 215 BTC, respectively.

Long-Term Vision for Digital Asset Strategy

The Smarter Web Company went public in April through a listing on the Aquis Stock Exchange in London. It has raised over £100 million in equity capital since its initial public offering. The company holds no outstanding debt, aside from a director loan that it has already repaid. In a related development, the company disclosed a loss of £719,566 for the six months ending April 30 in its recent financial report. This compares to a £372,640 loss for the same period the previous year.

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