The Smarter Web Company, a UK-based tech firm, has snapped up 104.28 BTC worth a whopping $10 million. This major purchase signals the company’s all-in approach to cryptocurrency as part of its “10-Year Plan” to diversify its treasury with digital assets. The bold acquisition has reportedly boosted the company’s Bitcoin holdings to 346.63 BTC, with its stock price rocketing.
Smarter Web Rakes in 104 BTC with $10M
The Smarter Web Company, listed on London’s Aquis Stock Exchange, made this hefty investment by acquiring 104.28 BTC at an average price of $104,451 per coin, totaling $10 million. The purchase was funded through a combination of cash reserves and a recent $37.1 million share offering, which saw strong backing from institutional investors.
The company has been steadily building its Bitcoin treasury since August 2024, using a dollar-cost averaging strategy to buy BTC regularly, regardless of market swings. This latest purchase, part of its sixth purchase in 30 days, reflects a long-term belief in Bitcoin’s potential as a store of value and hedge against inflation. The move aligns with the company’s “Bitcoin Treasury Policy,” inspired by U.S. firm Strategy, which sees crypto as a core part of its financial strategy.
BTC Purchase Triggers 25% Stock Surge
Following the announcement, the company’s stock surged an impressive 25% in a single day of trading, pushing its market cap to almost $968 million and landing it in the FTSE 250’s middle tier. The rally, fueled by investor enthusiasm for the company’s crypto embrace, came after a $39 million share offering that nearly tripled its stock value in weeks.
The Smarter Web Company is not alone in its bitcoin enthusiasm. Recently, Brazil-based Méliuz, a leading fintech company, raised $32.4 million to acquire more BTC, solidifying its position as a crypto trailblazer in Latin America. In the U.S., DDC Enterprise Ltd. committed $528 million to expand its Bitcoin reserves, while Fold Holdings Inc. secured $250 million for similar purchases.
Similarly, Michael Saylor, the Bitcoin bull and chairman of Strategy, acquired a staggering 10,100 BTC for $1.05 billion. These moves highlight a growing trend of companies integrating Bitcoin into their treasuries, viewing it as a hedge against economic uncertainty and a driver of shareholder value.
