The Smarter Web Company (SWC) announced on Tuesday that it has bought an additional 295 Bitcoin as part of its long-term “10 Year Plan” strategy to build a substantial cryptocurrency holding.
The London-listed technology group said the purchase, made at an average price of £89,000 ($119,412) per Bitcoin, amounted to a total investment of £26.26 million.
Following the acquisition, the company holds 2,395 Bitcoin, purchased at an average cost of £82,399 ($110,555) each, representing a total spend of £197.35 million.
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The firm reported a year-to-date Bitcoin yield of 55,069% on its treasury and a 30-day yield of 76%. It has around £700,000 in net cash available to deploy into further Bitcoin purchases.
SWC.LSE
The Smarter Web Company, which offers web design, development and online marketing services, said Bitcoin remains central to its growth strategy.
Since 2023, it has accepted Bitcoin payments and adopted a Bitcoin Treasury Policy, which it believes positions it at the forefront of integrating cryptocurrency into corporate finance.
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“The Smarter Web Company believes that Bitcoin forms a core part of the future of the global financial system,” it said, adding that the treasury policy was embedded in its broader corporate strategy.
Overall, the group aims to expand through both organic growth and acquisitions, targeting businesses that could boost client numbers and recurring revenues.
It said acquisitions are only pursued when the timing and opportunity are deemed appropriate by the board.
The company is listed on the Aquis Stock Exchange.
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Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.
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