Market News

UK Web Design Firm Strengthens Its Bitcoin Holdings with Recent $35 Million Acquisition

The Smarter Web Company (SWC), a UK-based web design and Bitcoin investment firm, has made headlines with its latest acquisition of 295 BTC.

The purchase cost the company £26.3 million, equating to approximately $35.2 million, with an average buying price of £89,000 per Bitcoin.

This investment follows a recent share offering of £7.6 million, showcasing SWC's commitment to expanding its Bitcoin treasury.

With this latest addition, SWC's total Bitcoin holdings now stand at 2,395 BTC, valued at around £197.3 million or $264.8 million.

As the largest publicly traded institutional Bitcoin holder in the UK, SWC is positioned among the top 25 globally, according to data from Bitcoin Treasuries.

At the current Bitcoin price of $118,917, the company's assets are estimated to be worth approximately $284.8 million, reflecting a paper profit of about $20 million.

In the past month alone, SWC has acquired over 1,500 BTC, climbing from 36th to 23rd place in the global rankings.

CEO Andrew Webley has indicated aspirations to break into the top 20 in the near future.

Since adopting a Bitcoin treasury strategy in April, SWC has been accepting Bitcoin payments, reinforcing its belief in enhancing shareholder value.

The company's aggressive investment strategy highlights the increasing demand and institutional confidence in Bitcoin within the UK market.