Bitcoin News: Smarter Web’s Bold Move – 2000 BTC Treasury After $27M Purchase
In a groundbreaking move, UK-based Smarter Web has solidified its position as a leader in corporate Bitcoin adoption, amassing over 2000 BTC in its treasury after a $27 million purchase. This bold strategy highlights the growing trend of companies leveraging Bitcoin as a store of value. Let’s dive into the details.
Why Is Smarter Web’s Bitcoin Treasury Making Headlines?
Smarter Web, originally a web design firm, has transformed into a Bitcoin-focused entity, acquiring 225 BTC at an average price of $118,080 per unit. This brings its total holdings to 2,050 BTC, valued at $222.54 million. Key highlights:
- Ranked among the top 25 global corporate Bitcoin holders.
- Year-to-date gains of 49,198%, showcasing Bitcoin’s potential.
- Funded by a £19.7 million capital raise, with plans for further acquisitions.
How Does Corporate Bitcoin Adoption Benefit Companies?
Bitcoin’s role as a hedge against inflation and macroeconomic volatility has driven companies like Smarter Web to integrate it into their treasury strategies. Benefits include:
- Diversification: Reducing reliance on traditional assets.
- Long-term gains: Capitalizing on Bitcoin’s appreciation.
- Innovation: Aligning with financial technology trends.
What’s Next for Smarter Web’s Bitcoin Strategy?
CEO Andrew Webley aims to break into the top 20 global corporate Bitcoin holders. The company’s 10-Year Plan includes:
- Biweekly shareholder updates for transparency.
- Continued Bitcoin purchases using available cash reserves.
- Expansion of Bitcoin payment acceptance.
FAQs About Smarter Web’s Bitcoin Treasury
Q: How much Bitcoin does Smarter Web hold?
A: 2,050 BTC, valued at $222.54 million.
Q: What is Smarter Web’s average Bitcoin purchase price?
A: £81,346 ($108,556) per BTC.
Q: How does Smarter Web fund its Bitcoin purchases?
A: Through capital raises, including a recent £19.7 million share issuance.
Q: What is the company’s long-term Bitcoin strategy?
A: To build a diversified asset base and reach the top 20 corporate Bitcoin holders.