The Smarter Web Company, a UK-based web design agency, recently spent over £8.1 million to purchase 104.28 BTC, boosting its Bitcoin portfolio. This has brought its total Bitcoin holdings to 346.63 BTC, worth over £27.2 million. This move solidifies the firm’s position among global public companies holding BTC.
Smarter Web Invests in Bitcoin
Smarter Web’s latest bitcoin acquisition came shortly after a successful fundraising event, during which the firm raised approximately £29.3 million by selling new shares to investors.
Initially, the company only aimed to raise £15 million, but it nearly doubled that target, showing strong investor interest. The funds are being used to support the company’s growth and to continue building its Bitcoin reserves as part of what it calls its “10-Year Plan.”
Smarter Web introduced its Bitcoin Treasury Policy in 2023. The policy allows the company to accept Bitcoin payments and hold Bitcoin as a long-term investment. The company sees Bitcoin as a smart way to protect its money against inflation and to diversify its financial strategy. This puts the UK-based firm on par with renowned Bitcoin holders, such as the United States-based company Strategy (formerly MicroStrategy) and the Japanese firm Metaplanet.
Interestingly, Smarter Web’s latest BTC acquisition has had an impact on the price of its common stock, TSWCF. According to Google Finance, TSWCF sold for £6.64 shortly after the acquisition news, representing over a 170% increase in the past week. At the time of writing, the stock was trading at £5.54.
Increase in Corporate BTC Holders
Like Smarter Web, various public companies have committed to holding bitcoin as part of their treasury assets. Strategy, a business intelligence company, was the first to embrace BTC. Since 2020, the firm’s co-founder, Michael Saylor, has led the firm on a continuous accumulation spree of Bitcoin. At the time of writing, the business intelligence company holds 592,100 BTC, making it the largest corporate holder of BTC globally.
Other firms holding BTC are Metaplanet, MARA Holdings, GameStop, Boyaa Interactive, and many more.
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