Introduction to Bitcoin Investment
The Smarter Web Company, a United Kingdom-based web design and marketing firm, has recently expanded its Bitcoin treasury. The company purchased an additional 230.05 BTC for 17.97 million British pounds ($24.7 million) at an average price of 78,103 pounds ($107,126) per coin. This move is part of the company’s "10 Year Plan," a strategy launched in April to drive transparent growth through a Digital Assets Treasury Policy, which focuses on Bitcoin accumulation, to support "longer-term business value."
The Smarter Web Company’s Bitcoin Holdings
The London-listed firm now holds 773.58 BTC acquired at an average price of 78,022 pounds ($107,015), bringing its total Bitcoin (BTC) investment to over $82.6 million, according to a filing on Tuesday. The company said it still has approximately 38 million pounds ($52.3 million) in cash available to deploy into further Bitcoin buys.
Recent Fundraising Efforts
The filing also detailed recent fundraising efforts that netted roughly 45 million pounds ($62 million) from a series of subscriptions and accelerated bookbuilds. These moves diluted existing shareholders’ stakes by 9%. The update also disclosed current shareholdings for key directors following the fundraising, with CEO Andrew Webley and his family holding around 11.3% of the company.
Bitcoin Adoption in the UK
Smarter Web began accepting Bitcoin as payment in 2023. “The Company believes that Bitcoin forms a core part of the future of the global financial system and as the Company explores opportunities through organic growth and corporate acquisitions,” the filing reads. This move is part of a larger trend of UK-based companies investing in Bitcoin. Over the past week, at least nine small-cap companies on exchanges like Aquis have either announced Bitcoin purchases or plans to add the cryptocurrency to their treasuries.
Other UK-Based Companies Investing in Bitcoin
These include AI services group Tao Alpha, which plans to raise 100 million pounds ($137 million) after unveiling a Bitcoin strategy, and Smarter Web Company, which purchased 196 Bitcoin to add to its growing holdings. Furthermore, Panther Metals revealed it bought a single Bitcoin. Bluebird Mining Ventures secured 2 million pounds ($2.7 million) to purchase Bitcoin, while Vinanz attracted 3.58 million pounds ($5 million) in funding from investors.
Conclusion
The Smarter Web Company’s recent purchase of Bitcoin is a significant move in the company’s "10 Year Plan" to drive growth through Bitcoin accumulation. With a total Bitcoin investment of over $82.6 million, the company is well-positioned to benefit from the growing adoption of Bitcoin in the UK and around the world. As more UK-based companies invest in Bitcoin, it will be interesting to see how this trend continues to develop and what impact it will have on the global financial system.
