Bitcoin News Today: Smarter Web Company Raises £17.5 Million for Bitcoin Accumulation

Smarter Web Company, a London-listed Bitcoin treasury company, has successfully raised £17.5 million through an equity offering to institutional investors. This capital injection was achieved by issuing 5,947,099 new ordinary shares at £2.95 each in an accelerated bookbuild managed by Tennyson Securities and Peterhouse Capital Ltd. The funds raised will be used to accelerate the company's aggressive Bitcoin accumulation strategy, positioning it as a leader in the digital currency space.

The latest raise follows the company’s recent Bitcoin purchases. On July 16, Smarter Web Company acquired 325 BTC for £27.15 million at an average price of £83,525 per coin. This purchase came just days after another significant buy of 275 BTC at an average price of $108,182. These acquisitions are part of the company's broader strategy to maintain an active Bitcoin treasury, which it adopted in April this year. Since then, Smarter Web Company has accumulated 1,600 BTC, placing it among the top 25 institutional holders globally.

Smarter Web Company has been aggressively raising funds through institutional bookbuilding and qualified investor subscriptions. The company has been allocating much of the capital raised to Bitcoin purchases as part of its “10-Year Plan.” This plan centers on keeping an active BTC treasury as a key part of its financial strategy. The company has been raising funds at a rapid pace, with significant capital allocated to Bitcoin purchases. This strategy reflects the company's belief in the cryptocurrency's role in the future of digital transactions and its commitment to leveraging Bitcoin as a core part of its financial strategy.

Smarter Web Company has been accepting Bitcoin as a form of payment since 2023, further underscoring its commitment to digital currencies. The company's vision aligns with a future where digital currencies play a pivotal role in global commerce. By expanding its Bitcoin holdings, Smarter Web Company aims to position itself as a leader in the digital currency space, leveraging the potential of Bitcoin to drive its financial strategy forward.