The Smarter Web Company has added 275 BTC to its treasury, pushing total holdings to 1,275 BTC as Bitcoin hit a new all-time high.
The Smarter Web Company, a London-listed Bitcoin treasury company, announced on July 11 the purchase of an additional 275 Bitcoin (BTC). The recent acquisition was made at an average price of £79,563 ($108,182) per BTC, totaling approximately £21.88 million. With this purchase, the company’s total Bitcoin holdings have risen to 1,275 BTC, acquired at an average price of £78,516 ($106,719) per BTC, with a total investment of about £100.1 million.
This latest purchase follows the company’s July 7 acquisition of 226.42 BTC, which pushed its total holdings to 1,000 BTC, marking a major milestone in its treasury strategy. At that point, the firm reported a year-to-date BTC yield of 26,242%. With the latest addition of 275 BTC, that figure has now climbed to 31,263%, as Bitcoin itself hits a new all-time high of $118,000, with further upside momentum expected.
Additionally, The Smarter Web Company reported a 30-day BTC yield of 497% and confirmed that it has roughly £31 million in cash reserves available for further Bitcoin purchases.
The Smarter Web Company has accepted BTC as a payment option for its customers since early 2023. In April this year, the company also adopted a Bitcoin treasury strategy and has since actively deployed surplus cash into Bitcoin on a rolling basis, using BTC yield to measure accretive value for shareholders. Through its “10 Year Plan,” the company aims to steadily accumulate BTC as both a hedge against currency debasement and a potential growth asset.
The move comes amid growing adoption of Bitcoin treasury strategies, pioneered by Michael Saylor’s Strategy, with more European firms following suit. Meanwhile, alternative corporate crypto treasury strategies involving Ethereum (ETH), and more recently Ripple (XRP), Solana (SOL), and Binance Coin (BNB), are also beginning to gain traction.