The Smarter Web Company, a UK-based web design and Bitcoin treasure company, continues to grow its Bitcoin investments.
The company announced that it has purchased an additional 295 BTC, paying £26.3 million (about $35.2 million) for them. 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 offering on Monday. SWC’s total Bitcoin investment, which has already reached 2,395 BTC, has reached £197.3 million ($264.8 million).
The company remains the UK’s largest publicly traded institutional Bitcoin holder and ranks in the top 25 globally, according to Bitcoin Treasuries data.
With Bitcoin currently at $118,917, SWC’s assets are valued at approximately $284.8 million, meaning the company is currently making a profit of approximately $20 million on paper.
Having purchased more than 1,500 BTC in the last month, SWC quickly rose from 36th place to 23rd in the global rankings. CEO Andrew Webley stated that they aim to enter the top 20 in the coming weeks.
SWC, which has been accepting Bitcoin payments since 2023, adopted a Bitcoin treasury policy in April. The company believes this strategy will increase shareholder value in the long term.
*This is not investment advice.