UK-based Smarter Web Company has made another bold move in the cryptocurrency space by acquiring an additional 225 BTC, valued at approximately $26.4 million. This latest purchase brings the firm’s total bitcoin treasury to 1,825 BTC, now worth over $200 million at current market prices.
Strategic Bitcoin Investment Amid Financial Losses
Despite reporting a half-year loss of £719,566, up from £372,640 during the same period last year, Smarter Web continues to double down on bitcoin as a core part of its long-term growth strategy. The company purchased the new tranche of bitcoin using £19.6 million in treasury funds, at an average price of $118,076 per BTC.
CEO Andrew Webley expressed strong confidence in the move, stating that bitcoin is “the best asset the world has ever seen.” He emphasized that the company’s growing crypto position is a strategic decision aimed at building long-term shareholder value.
Ranking Among Global Bitcoin-Holding Public Companies
Following this latest acquisition, Smarter Web now ranks 26th globally among publicly traded companies holding bitcoin, according to data from Bitcointreasuries.net. The firm’s aggressive stance on bitcoin sets it apart from many traditional businesses, especially considering its relatively short history as a public company.
Since its IPO on the Aquis Stock Exchange in April, the company has raised more than £100 million in equity capital and remains entirely debt-free. In addition to its bitcoin holdings, Smarter Web still holds £1 million in net cash, which it has earmarked for potential future bitcoin purchases.
Smarter Web Company is clearly positioning itself as a forward-thinking player in the evolving digital asset space. With a strong treasury, no debt, and an unwavering belief in bitcoin, the firm continues to bet big on crypto for its long-term strategic growth.
