The London-listed tech firm The Smarter Web Company has significantly increased its Bitcoin holdings following a successful fundraising round.
Acquisition of 104 BTC
On June 19, the company announced the acquisition of 104.28 BTC at an average price of £77,751 ($104,451) per coin, totaling approximately £8.1 million. This purchase raised its total Bitcoin treasury to 346.63 BTC.
Successful Fundraising
This acquisition follows a successful fundraising round announced on June 16, which raised close to £29.3 million ($37.1 million) against an initial target of £15 million. However, this resulted in a 7.39% dilution for existing shareholders.
10-Year Strategic Plan
This aggressive strategy of increasing Bitcoin reserves aligns with the company's broader '10-Year Plan' which places Bitcoin at the core of its financial strategy.
In conclusion, The Smarter Web Company continues to actively enhance its investments in Bitcoin, emphasizing its long-term commitment to this financial asset.
