Smarter Web Company Adds More Bitcoin to Its Balance Sheet
Global interest in Bitcoin is soaring, and now, U.K. firm Smarter Web Company is getting in on the action. On Friday, it disclosed buying an extra 74.27 BTC.This purchase is worth around $7.7 million.
This addition brings the company’s Bitcoin reserves to 242.34, valued at roughly $25 million. The latest BTC was purchased at around $109,256 each. the average cost of its Bitcoin holdings is now about $107,002.
Smarter Web Company’s strategy is part of a “10-year plan” for BTC acquisitions. This plan kicked off in April, right after the firm went public. The company also accepts bitcoin payments for its online services.
Founded in 2009, Smarter Web specializes in web design and other digital services. As its public debut, its market value has surged from £4.50 to over £150 per share, totaling more than £377.74 million.
Businesses worldwide are increasingly adopting Bitcoin as part of strategic plans. Smarter Web is just one in a line of firms turning to BTC.
- Michael Saylor pioneered a similar strategy with his company.
- Others, like Trump Media & Technology Group, plan to raise $2.5 billion for BTC investments.
- GameStop has also jumped in,raising $1.75 billion for Bitcoin purchases.
While these companies don’t typically deal with crypto, they see Bitcoin as a way to attract more investors and boost appeal.
