Key Notes
- As part of “The 10 Year Plan,” Smarter Web has acquired 25 Bitcoin.
- Currently, its total Bitcoin holdings are pegged at 2,550 BTC.
- The company is replicating Strategy’s consistent approach to acquiring Bitcoin.
The Smarter Web Company, a London-listed technology firm, has made a massive purchase of 25 Bitcoin
BTC
$124 408
24h volatility:
0.3%
Market cap:
$2.48 T
Vol. 24h:
$67.75 B
. The purchase is part of a 10-year plan and has now led to an expansion of the firm’s Bitcoin holdings. As of Oct. 6, the company owns a total of 2,550 Bitcoin in its portfolio.
The Smarter Web Company Holds 2,550 Bitcoin in Its Stash
The Smarter Web Company PLC recently announced a new bet on Bitcoin, adding 25 more units of the flagship cryptocurrency to its stash. The purchase was made at an average price of £92,009 per Bitcoin, which is equivalent to $124,018. Therefore, the total purchase cost of the company was £2,300,215.
As a result of the latest addition, the company’s total Bitcoin holdings have now increased to 2,550 BTC. They have a total average purchase price of £82,547, or $111,265 per Bitcoin, and a total amount purchased of £210,493,768. Notably, Bitcoin rose above $126,000 on Oct. 6 before retracting slightly.
CoinMarketCap data shows that the coin is currently trading at $123,940.75. At this price level, the Smarter Web Company is still in profit. To confirm its position, the company reported a Year-to-Date (YTD) BTC Yield of 57,439% and a Quarter-to-Date (QTD) BTC Yield of 0.10% on its treasury.
Smarter Web Fulfils 10 Year Plan with Bitcoin Purchase
The recent acquisition is part of “The 10 Year Plan” that includes an ongoing treasury policy of acquiring Bitcoin.
The Smarter Web Company has made a number of Bitcoin purchases this year alone. This acquisition of 25 BTC is one of the smallest purchases it has made this year. At the end of August, it purchased 45 BTC at $111,758 each, adding to its holdings, which were just around 2,440 BTC at the time.
In September, it signed a new subscription agreement to issue 21 million ordinary shares. At this time, the firm was doubling down on a fundraising strategy first used in June. Most of these funds go to the purchase of the leading digital asset.
next
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
Godfrey Benjamin on X
Source: https://www.coinspeaker.com/smarter-web-expands-bitcoin-chest-2550-btc-new-bet/
