The Smarter Web Company, based in London, announced a £15 million investment in Bitcoin amid recent geopolitical tensions.
Investment by The Smarter Web Company
In a recent announcement, The Smarter Web Company confirmed its purchase, bringing its total holdings to 543.52 BTC. The current valuation of its Bitcoin treasury stands at £42.38 million or $58.15 million. The average purchase price of BTC was $104,450.
Bitcoin Market After Geopolitical Events
At the time of writing, Bitcoin's price has risen by 3.65% in the past 24 hours, reaching $105,730. This increase followed the successful interception of Iranian missiles by the U.S.
Company's Accumulation Strategy
The company stated that it will only make acquisitions when the Directors believe timing and opportunities are appropriate. Despite the recent market downturn, The Smarter Web Company seized the moment to expand its portfolio.
The Smarter Web Company's acquisition highlights its long-term strategy for accumulating Bitcoin, which is a key part of its 10-year business plan, despite the cryptocurrency market's volatility.
