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UK Firms Surge into Bitcoin: Smarter Web Company Boosts Its Holdings by $24.7M

United Kingdom-based web design and marketing firm The Smarter Web Company has made headlines by adding $24.7 million worth of Bitcoin to its treasury.

The firm purchased an additional 230.05 BTC at an average price of 78,103 pounds ($107,126) per coin.

With this acquisition, The Smarter Web Company now holds a total of 773.58 BTC, valued at over $82.6 million.

This strategic move is part of the company's "10 Year Plan," aimed at accumulating Bitcoin to enhance long-term business value.

Additionally, Smarter Web maintains approximately 38 million pounds ($52.3 million) in cash to continue expanding its Bitcoin holdings.

The recent filing also reveals that the company raised roughly 45 million pounds ($62 million) through fundraising efforts, albeit diluting existing shareholder stakes by 9%.

In a broader trend, several UK-listed firms are increasingly investing in Bitcoin, with nine small-cap companies recently announcing similar plans.

Among these companies, AI services group Tao Alpha has revealed intentions to raise 100 million pounds ($137 million) supported by a Bitcoin strategy.

Smarter Web, which began accepting Bitcoin as payment in 2023, believes that Bitcoin is integral to the future of the global financial system.

This rush into Bitcoin showcases a growing interest among UK firms in cryptocurrency as a significant asset for future growth and stability.