U.K.-based Smarter Web Company has announced a significant achievement in its crypto treasury strategy, reaching a total of 1,000 BTC.
Bitcoin Purchase
On July 7, Smarter Web Company acquired 226.42 BTC at an average price of about $107,726 per Bitcoin. As a result of this acquisition, the company's total Bitcoin holdings reached 1,000 BTC, amounting to approximately $108.9 million at current market prices.
Financial Achievements
According to data released in a press release, Smarter Web Company has generated a yield of 26,242% year-to-date from its Bitcoin treasury. Over the past month, the treasury yielded about 530% on its current holdings, while the company holds cash reserves of £42.3 million ($57.56 million) to facilitate further Bitcoin purchases.
Company Strategy and Plans
Since early 2023, the company has been accepting payments in BTC from its customers and began acquiring Bitcoin to strengthen its financial position on April 28. In just three months, it has accumulated 1,000 BTC.
Smarter Web Company shows significant progress in accumulating Bitcoin, reaffirming their long-term strategy to strengthen their market position in cryptocurrencies.
