The Smarter Web Company (SWC) based in the UK continues to actively accumulate Bitcoin, increasing its reserves to 773.58 BTC following a recent purchase of 230.05 BTC.
SWC's Bitcoin Reserve Strategy
SWC purchased 230.05 Bitcoins at an average price of $107,126. The company's total investment in Bitcoin has reached £60.4 million ($82.7 million), securing its 40th position among public companies in terms of Bitcoin holdings.
Impact on Stock Market
Following the announcement of its Bitcoin reserve strategy, SWC's shares peaked at £605 but subsequently fell by 70%, hitting £192.66, with a current trading price of £249.75.
Other UK Companies Investing in Bitcoin
Amid SWC's success, other UK companies are also beginning to accumulate Bitcoin. Phoenix Digital Assets holds the second position with 247 BTC, while Coinsilium has 74 BTC. The Jersey-based CoinShares manages a reserve of 236 BTC.
SWC is advancing its Bitcoin accumulation strategy among a growing number of companies in the UK, while experts raise concerns about the risks associated with such investments.
