The Smarter Web Company, a UK-based web design firm, announced the acquisition of an additional 230.05 Bitcoin for £17.97 million. This move is part of their digital asset strategy.
Overview of Bitcoin Purchase
The Smarter Web purchased an additional 230.05 Bitcoin for £17.97 million ($24.7 million) at an average price of £78,103 per coin. The company now holds 773.58 BTC valued at over $82.6 million.
Digital Asset Strategy and Its Impact on Growth
The Bitcoin purchase is part of Smarter Web’s "10 Year Plan" launched in April to drive growth through a Digital Assets Treasury Policy. The company holds approximately £38 million ($52.3 million) in cash reserves for future Bitcoin acquisitions. CEO Andrew Webley and his family hold around 11.3% of the firm following a recent fundraising round of £45 million.
Global Trends in Bitcoin Adoption
The trend for companies adopting Bitcoin treasury strategies is observed not only in the UK but worldwide. Reports indicate that 61 publicly-listed companies globally have adopted Bitcoin treasury strategies, reflecting the rising interest in the cryptocurrency.
The acquisition of Bitcoin by The Smarter Web Company serves as an example for other firms looking to leverage cryptocurrencies for growth and investment attraction. This direction could change how financial strategies and interactions with banks are approached within the corporate landscape.
