London-listed tech firm The Smarter Web Company has made another aggressive move into Bitcoin, announcing the acquisition of 104.28 BTC at an average price of £77,751 ($104,451) per coin. The latest purchase, valued at £8.1 million, pushes the company’s total Bitcoin holdings to 346.63 BTC a strategic increase of over 43% from just a week ago.
The acquisition follows a highly oversubscribed fundraising round, concluded on June 16, where the company raised £29.3 million ($37.1 million) nearly double its original £15 million target.
Bitcoin Strategy Fueled by Strong Fundraising
According to the company’s announcement, the capital was raised through a mix of institutional bookbuilding and qualified investor subscriptions, signaling strong confidence from the market in The Smarter Web Company’s long-term strategy.
While the fundraising resulted in a 7.39% shareholder dilution, the company emphasized that directors retained their share counts, with only modest reductions in ownership percentages.
“We continue to believe in the long-term role of Bitcoin as a treasury reserve asset,” the company stated. “This latest purchase aligns with our ‘10 Year Plan’ to use Bitcoin as a core financial pillar.”
Just days earlier, on June 13, the firm acquired 74.27 BTC for £5.98 million, bringing its holdings to 242.34 BTC at the time. With the new acquisition, the company’s total investment in Bitcoin now stands at £27.2 million, at an average purchase price of £78,480 ($105,430) per coin.
U.K. Firms Embrace Bitcoin Treasury Strategies
The Smarter Web Company isn’t alone in this bold move. A growing number of UK firms are embracing Bitcoin as a treasury reserve asset, following the playbook made famous by MicroStrategy’s Michael Saylor.
- Abraxas Capital, another London-based firm, recently disclosed a massive purchase of 2,949 BTC, valued at over $250 million, during a market dip.
- Bluebird Mining Ventures Ltd., a UK-listed gold mining company, has announced a pioneering “gold-to-digital-gold” treasury model, converting gold revenues directly into BTC.
These moves reflect a broader shift in corporate finance, as businesses seek to diversify balance sheets and hedge against inflation using Bitcoin and other digital assets.
Outlook: Strategic Treasury Moves in a Volatile Market
The timing of The Smarter Web Company’s Bitcoin buys suggests confidence in Bitcoin’s long-term value, despite recent price volatility. By deploying funds immediately following its fundraising success, the firm signals its belief that Bitcoin remains undervalued relative to future potential.
As more institutions and public companies begin to mimic this treasury strategy, the trend of corporate BTC accumulation could continue to accelerate especially in regions like the UK, where regulatory clarity around crypto is steadily improving.
Bottom Line:
With this latest acquisition, The Smarter Web Company solidifies its position among the UK’s most BTC-forward firms. Whether as a store of value, financial hedge, or strategic treasury asset, Bitcoin is becoming an increasingly central fixture in corporate finance and The Smarter Web Company is leaning all the way in.
