UK-listed The Smarter Web Company just bought 225 BTC boosting its holdings and bringing it closer to the 2,000 BTC threshold. How much Bitcoin does the company hold now?
- The Smarter Web Company bought 225 BTC, increasing its holdings to 1,825 BTC.
- More companies have been accumulating BTC into their treasury strategies.
On July 25, The Smarter Web Company has announced another BTC (BTC) purchase to help boost its reserves as part of the company’s “10-year-plan” of acquiring more BTC. The U.K.-based firm bought 225 BTC at an average price of $118,076. Overall, the firm spent £19.5 million ($26.25 million) on its latest BTC purchase.
With the latest BTC purchase, the London-listed company currently holds a trove of 1,825 BTC. At current prices, The Smarter Web Company’s BTC trove is valued at $211.15 million.
At press time, BTC has gone down by 2.58% in the past 24 hours of trading. The token has been on a downhill slump, having lost its grip on the $120,000 threshold. The largest cryptocurrency by market cap is trading hands at $115,701.
In the past week, the BTC has been down 4.64%. Bitcoin’s market cap has gone down 2.6% and stands at $2.3 trillion.
So far, The Smarter Web Company has managed to achieve a BTC yield of 43,787% on a year-to-date basis. Throughout the past month, the company has achieved a BTC Yield amounting to 189% accumulated from its treasury holdings.
At the moment, the company’s stored net cash that is allocated for purchasing more BTC is approximately £1,000,000 ($1.34 million).
Rising Bitcoin demand in the corporate world
In the past few months, more companies have jumped on the Bitcoin treasury strategy. Several companies formed brand-new Bitcoin treasury programs in the last week, contributing an initial total of 817 BTC.
In the past week, American Bitcoin Corp debuted with 215 BTC, preparing for a public listing via a reverse merger. Meanwhile, just a few days ago the Blockchain Group allocated funds to purchase approximately 22 BTC.
Most recently, the Refine Group raised an additional 5 million SEK or $520,000 for the purpose of buying more BTC for the company.