UK web design firm Smarter Web Company continues to increase its Bitcoin holdings by adding 230.05 BTC to its treasury.
Expansion of Bitcoin Treasury
Smarter Web Company has purchased 230.05 BTC for £17.97 million ($24.7 million) at an average price of £78,103 ($107,126) per coin. The company now holds 773.58 BTC acquired at an average price of £78,022 ($107,015), bringing its total Bitcoin investment to over $82.6 million.
Recent Fundraising Efforts
According to the filing, the company recently raised around £45 million ($62 million) through a series of subscriptions and accelerated bookbuilds, which diluted existing shareholders’ stakes by 9%. CEO Andrew Webley and his family hold about 11.3% of the company.
Bitcoin Market in the UK
Smarter Web's recent purchase comes as UK-listed companies are increasingly investing in Bitcoin. Over the past week, at least nine small-cap companies on exchanges have announced Bitcoin purchases or plans to add the cryptocurrency to their treasuries.
Smarter Web's expansion in Bitcoin holdings underscores the growing interest of businesses in cryptocurrency in the UK, through investment strategies and capital raising.
