Bitcoin News Today: Smarter Web Boosts Bitcoin Holdings by 295 BTC in $35M Purchase

The UK-based company The Smarter Web Company has significantly increased its Bitcoin holdings by acquiring an additional 295 Bitcoins at a total cost of approximately $35.2 million. This purchase raises the firm’s total Bitcoin portfolio to 2,395 coins, valued at around $285 million, with a current market price of roughly $119,000 per Bitcoin. The acquisition was executed at an average price of $119,412 per coin, according to the company’s disclosures [2]. The move reflects a strategic effort to capitalize on what appears to be a favorable entry point in the Bitcoin market [3].

To finance the purchase, the company issued 3,452,086 new shares, raising approximately $10.17 million in capital. The company currently has 14 million shares available for subscription, with 4,490,000 remaining in the current batch. The firm has indicated plans to initiate a new subscription round once this lot is exhausted [2]. This approach highlights a structured and ongoing commitment to Bitcoin as part of its corporate treasury strategy.

The Smarter Web Company’s stock, listed as “WC” on London’s Aquis Stock Exchange, traded at 224.50 pence, with a weekly gain of 9.5% despite a 0.3% drop in the most recent session. The firm’s market capitalization stands at $415.2 million, with a market Net Asset Value (mNAV) ratio of 1.46x, slightly below the industry benchmark of 1.52x [2].

The firm’s aggressive Bitcoin accumulation has elevated its global standing, moving it from 36th to 23rd among publicly traded Bitcoin-holding companies in July [3]. The CEO, Andrew Webley, has expressed an ambition to break into the top 20 within weeks. This reflects the firm’s competitive positioning in the corporate Bitcoin space and its long-term vision for shareholder value creation through Bitcoin exposure.

Using the “BTC Yield” metric, which measures the percentage change in Bitcoin relative to the diluted share count, the company has seen a 55,069% year-to-date increase and a 76% rise over the past 30 days, showcasing the rapid appreciation of Bitcoin within the firm’s portfolio [2]. The firm’s strategic 10-year plan, led by David Bailey and UTXO Management, emphasizes steady organic growth in its web services business alongside tactical Bitcoin acquisitions.

The company, which has expanded its payment options to include Bitcoin, operates in web design and marketing services while actively pursuing a dual strategy of digital finance and traditional business growth. The Smarter Web Company’s recent reverse merger led to a sharp initial share price surge before stabilizing following the announcement of its Bitcoin treasury strategy [2].

The latest Bitcoin purchase aligns with a broader trend of institutional adoption, with other firms also increasing their digital asset holdings. The company’s move not only reinforces its position in the corporate Bitcoin market but also highlights the growing acceptance of cryptocurrencies as a legitimate asset class within institutional finance.

Source:

[1] Bitcoin News Today: Smarter Web Boosts Bitcoin Holdings By 295 BTC In $35M ... (https://www.ainvest.com/news/bitcoin-news-today-smarter-web-boosts-bitcoin-holdings-295-btc-35m-purchase-2508/)

[2] Smarter Web Company Acquires 295 Bitcoin For £26.3 Million (https://www.investing.com/news/company-news/smarter-web-company-acquires-295-bitcoin-for-263-million-93CH-4184158)

[3] The Smarter Web Company Just Acquires 295 Bitcoin as ... (https://cryptorank.io/news/feed/de729-the-smarter-web-company-acquires-295-bitcoin-btc-118k)