The Smarter Web Company has crossed the 2,000 BTC threshold after purchasing an extra 225 Bitcoin.
The Smarter Web Company (SWC), a UK-based business that started out building websites, has now taken a big step further into the world of Bitcoin BTC $87 254 24h volatility: 2.6% Market cap: $1.74 T Vol. 24h: $53.71 B .
On July 30, the company announced that it bought an additional 225 BTC, spending about $26.57 million (or £19.91 million). Each Bitcoin costs them an average of $118,080 (£88,482).
In a filing with the London Stock Exchange, the publicly traded company revealed that it now holds a total of 2,050 BTC.
According to Bitcoin Treasuries data, this makes the firm the 25th largest corporate holder of Bitcoin globally.
The Smarter Web Company Raises Fund
The company’s recent Bitcoin purchase came shortly after it raised £19.7 million through the sale of new shares. This was announced on July 28, as part of a larger plan to raise funds by offering around 14 million shares in total.
At the moment, 6,057,914 shares have been sold at a price of about £3.25 each, and it still has 7,942,086 shares left to offer in this round.
To help move things along more quickly, the company says it will now give updates on share subscriptions every two weeks, which should help speed up the payment process.
Once this round of funding is complete, the company plans to launch a new share offering with similar terms.
Earlier this month, The Smarter Web Company was ranked 36th among companies holding Bitcoin.
After buying an additional 1,500 BTC, they moved up to 25th place. Less than a week ago, the Bitcoin-focused company also purchased an additional 225 BTC, valued at around $25.9 million.
The company reported an impressive year-to-date return of approximately 49,198% on its Bitcoin holdings, along with a 224% gain in the past 30 days. SWC also has around £500,000 in cash available to invest in more Bitcoin.
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