UK-based The Smarter Web Company Expanded its Bitcoin Holdings by Acquiring 45.32 BTC

UK-based The Smarter Web Company expanded its Bitcoin holdings by acquiring 45.32 BTC for $4.73 million this month. With this latest move, its total holdings stood at 168.08 BTC

The Smarter Web Company, a UK-based firm, has further expanded its Bitcoin holdings with an latest acquisition of 45.32 BTC for $4.73 million this month.

This latest purchase brings the company’s total Bitcoin holdings to 168.08 BTC, showcasing an almost 55% increase from the last purchase. The time to buy this acquisition was during the high greed index of 71.

The company commenced its Bitcoin accumulation strategy back in April as part of its long-term treasury plan, which they named “The 10 Year Plan.”

It is focusing on capital allocation to BTC, highlighting it as a foundational digital asset in their reports. The company also disclosed a total investment of $17.7 million at a dollar cost average of $105,779 per Bitcoin.

Moreover, The Smarter Web Company also accepts Bitcoin for payments, a policy that was put in place earlier this year as the company aligns with its digital finance goals.

It is integrating BTC into its corporate structure alongside expansion plans which involve mergers and organic growth. This positions the company among a rising number of public firms in the UK and beyond who are adding Bitcoin to their balance sheets.

The company's announcement on the London Stock Exchange reads: "The time to buy this latest tranche of Bitcoin was during the high greed index of 71, according to the widely followed Cryptocurrency Fear & Greed Index.

"The company began its Bitcoin accumulation strategy in April 2023 as part of its long-term treasury plan, ‘The 10 Year Plan,’ which is being disclosed to shareholders. The company is focusing on capital allocation to Bitcoin, which it views as a foundational digital asset in their reports.

"For the full-year 2023, the company disclosed a total investment of £17.7 million or $17.7 million at a dollar cost average of $105,779 per Bitcoin. It is also planning to accept Bitcoin for payments later in 2023."

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