Bitcoin News Today: Smarter Web Company Buys 325 BTC for $36.45 Million, Joins Top 25 Bitcoin Treasury Holders

The Smarter Web Company, originally a small UK-based web design firm, has made significant progress in the Bitcoin and cryptocurrency industry. On July 16, the company announced the purchase of an additional 325 BTC for £27.15 million, approximately $36.45 million. This acquisition marks a bold shift from a traditional tech firm to a focused Bitcoin treasury company.

The Smarter Web Company, listed on the Aquis Stock Exchange, has shown a strong commitment to holding Bitcoin. In July, it acquired over 1,056 BTC, a pace faster than many of its global peers. The firm now holds a total of 1,600 BTC, acquired at an average price of £79,534, which is worth approximately $106,798 per coin. Its total investment amounts to £127.25 million, equivalent to $170.88 million. This recent purchase propels the company into the top 25 public Bitcoin treasury holders worldwide, placing it ahead of other treasury firms.

Now, Smarter Web Company is among the top companies holding Bitcoin in the UK. Alongside its announcement, Smarter Web also introduced a new tool for evaluating Bitcoin treasury firms called the “P/BYD ratio.” This works similarly to the well-known P/E ratio used in stock markets and is designed to help investors assess the value and performance of companies that hold the leading crypto asset.

On July 14, Bitcoin hit an all-time high of $123,000, but it has slightly pulled back. At the time of writing, Bitcoin is trading at $118,862, up by 1.14% in the last 24 hours. This initial rise in the top coin boosted Smarter Web Company’s Bitcoin investment by over 11%, which was valued at approximately $19.26 million on paper. Along with its crypto assets, it still holds £4 million, equivalent to roughly $5.36 million in cash.

CEO Andrew Webley has made it clear that Bitcoin is central to the company’s future. Since April, the company has followed a formal Bitcoin treasury strategy, aiming to create long-term value and support growth by holding BTC in its reserves. The firm’s 10-Year Plan focuses on growing its client base and acquiring more Bitcoin over time. With this strategy in place, Webley believes the company could break into the top 20 BTC holders within the month.

The company’s decision to focus on the flagship cryptocurrency has had a significant impact on its stock. After announcing the strategy, its stock price jumped almost 20,000% to £605. However, it later dropped to £192.66, a 70% fall. Since then, it has recovered by over 50% and is now trading at £290, although it is down 2.9% on the day of the announcement.