The Smarter Web Company, a UK-based web design and marketing firm, has raised £41.2 million through institutional investors as part of its Bitcoin accumulation strategy.
Company Investments and Strategy
The company has raised funds to support its operations. Most of the money, about £36.27 million, was raised through a rapid share placement process. This method allows large investors to quickly purchase shares within a day or two without much advertising.
Key Details of Bitcoin Purchase
Recently, the firm purchased 196.8 bitcoins for over $20 million at an average price of $103,290 per bitcoin. This brings its total holdings to 543.52 BTC, a significant increase over the month from 83.24 BTC at the end of May.
Market Performance and Company Stocks
The Smarter Web Company trades on the US OTCQB market. On Thursday, shares fell by 15%, closing at $3.56 after reaching an intraday low of $3.19. Despite the growth in crypto assets, the company’s stock faces pressure.
Overall, the company's Bitcoin accumulation strategy and the attracting of significant investments underline its ambitions in the cryptocurrency sphere, despite the current pressure on its stock in the market.
