The Smart Web Company Acquires 275 BTC in Latest Purchase, Now Holds 1,275 BTC

The Smart Web Company (SWC) has once again demonstrated its commitment to boosting its BTC stash. In a recent disclosure, the firm revealed the purchase of 275 BTC for approximately $29.7 million (£21.9 million). The London-based company spent an average price of $106,719 per BTC (£78,516).

Smart Web Company Continues to Boost BTC Holdings 

The latest acquisition boosts the firm’s total holdings to 1,275 BTC, valued at roughly $150 million (£100 million). The coins were bought at an average price of $106,719 per BTC. Earlier this month, the company added 230.05 BTC to its stash.

The continuous purchase aligns with the firm’s long-term “10-Year Plan,” which focuses on building a sizable Bitcoin treasury. Since adopting BTC as a payment option in 2023, the Smart Web Company has systematically increased its reserves in several buys.

Meanwhile, following the latest acquisition, the company reported a year-to-date (YTD) BTC yield of 31,263% on its treasury. It is worth mentioning that the company has $36.24 million (€31 million) allocated to Bitcoin purchases.

Smart Web Company’s board of directors views holding Bitcoin as being in the best interests of the firm. However, they stated that investing in the firm should not be seen as an investment in Bitcoin, either directly or by proxy.

While expanding its Bitcoin holdings, SWC continues to earn revenue from its core services, including website setup, hosting, and optional digital offerings. By integrating BTC into its brand strategy and balance sheet, SWC aims to gain financial flexibility and hedge against inflation.

The Smart Web Company joins a growing list of corporations building BTC treasuries, signaling a broader shift in corporate finance. This trend reflects how companies increasingly view crypto as a strategic reserve asset. Yesterday, KULR Technology Group bought an additional 90 BTC for about $10 million. This purchase boosts the company’s total holdings to 1,021 BTC.

Bitcoin Records New Highs

Bitcoin reached a new record high of $118,000 before easing slightly to $117,700 as strong investor interest fueled the rally. 

The world’s largest cryptocurrency now boasts a market capitalization of $2.3 trillion, with 24-hour trading volumes surging by 120%, signaling robust trader interest and momentum. The surge has resulted in massive price appreciation for stocks of companies with significant Bitcoin holdings, like Strategy.

The post The Smart Web Company Acquires 275 BTC in Latest Purchase, Now Holds 1,275 BTC appeared first on Cointab.