Smarter Web Company, a UK-based web design and Bitcoin treasurer company, continues to increase its Bitcoin investment.
The company announced it had purchased an additional 295 BTC and paid £26.3 million (approximately $35.2 million). The purchases were made at an average price of £89,000 ($119,412) per Bitcoin.
The purchase follows the company’s £7.6 million share offer on Monday. SWC’s total Bitcoin investment, which already reached 2,395 btc, reached £173 million ($264.8 million).
According to data from Bitcoin Treasuries, the company is the UK’s largest publicly traded institution Bitcoin holder, ranks in the top 25 in the world.
Currently, with Bitcoin at $118,917, SWC’s assets are valued at around $284.8 million. That is, the company is currently making profits on about $20 million in paper.
SWC, which purchased over 1,500 btc last month, has rapidly risen from 36th to 23rd in the global rankings. CEO Andrew Webley said he is aiming to be in the top 20 in the coming weeks.
SWC, which has been accepting Bitcoin payments since 2023, adopted Bitcoin financial policy in April. The company believes this strategy will increase shareholder value over the long term.
*This is not investment advice.
