The Smarter Web Company, a London-listed company, announced the purchase of an additional 275 BTC, increasing its total BTC holdings to 1,275 amid new all-time highs for Bitcoin.
Acquisition of Additional Bitcoin
On July 11, The Smarter Web Company reported the purchase of 275 BTC at an average price of £79,563 ($108,182) per BTC, totaling approximately £21.88 million. The company's total Bitcoin holdings have risen to 1,275 BTC, acquired at an average price of £78,516 ($106,719) per BTC, with a total investment of about £100.1 million.
Company's Overall Strategy
This latest purchase follows the company's acquisition of 226.42 BTC on July 7, which brought its total holdings to 1,000 BTC. At that time, Smarter Web Company reported a year-to-date BTC yield of 26,242%. With the addition of 275 BTC, this figure has now climbed to 31,263%. The company also reported a 30-day BTC yield of 497% and confirmed it has about £31 million in cash reserves for further Bitcoin purchases.
Growing Popularity of Bitcoin Treasuries
The company has been accepting BTC as a payment option for customers since early 2023, and in April adopted a Bitcoin treasury strategy. They have been actively deploying surplus cash into Bitcoin, using BTC yield to measure added value for shareholders. Through its "10 Year Plan," the company aims to steadily accumulate BTC as both a hedge against currency debasement and a potential growth asset.
This move comes amid increasing adoption of Bitcoin treasury strategies among European firms, highlighting interest in accumulating cryptocurrency as a long-term investment strategy.
