Smarter Web Company added 275 BTC to its finances, pushing its total stock to 1,275 BTC as Bitcoin hit its all-time high.
The smarter web company, a London-listed Bitcoin finance company, announced on July 11th that it would purchase an additional 275 Bitcoin (BTC). The recent acquisitions took place at an average price of £79,563 ($108,182) per BTC, totaling around £21.88 million. The purchase has raised the company’s total Bitcoin holdings to 1,275 BTC, with an average price per BTC of £78,516 ($106,719) and a total investment of around £104.1 million.
This latest purchase followed the company’s acquisition of 226.42 BTC on July 7, pushing its total holdings to 1,000 BTC, marking a major milestone in its financial strategy. At that point, the company reported a BTC yield of 26,242%. With the latest addition of 275 BTC, this figure has now risen to 31,263%. Bitcoin itself has hit a new all-time high of $118,000, with more upward momentum expected.
Additionally, the Smarter web company reported 497% of BTC yield over the course of 30 days, and confirmed that the cash reserve available for Bitcoin purchases is around £31 million.
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Smarter Web Company has accepted BTC as a customer payment option since early 2023. In April this year, the company also adopted a Bitcoin financial strategy and subsequently actively deployed surplus cash on a hitcoin basis, using BTC yields to measure shareholder value added. Through the “10-Year Plan,” the company aims to steadily accumulate BTC, both as a currency collapse and as a hedge against potential growth assets.
This move comes amid growing adoption of Bitcoin financial strategies, pioneered by Michael Saylor’s strategy and followed by more European companies. Meanwhile, financial strategies of alternative companies, including Ethereum (ETH), and more recently Ripple (XRP), Solana (SOL), and Binance Coin (BNB), are also beginning to gain traction.
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