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Smarter Web Company Adds £17.5M to Fuel Bitcoin Accumulation Plan
In a recent development, the British-based tech company, Smarter Web, has announced that it has successfully raised £17.5 million through an equity offering to institutional investors. This funding will be utilized to fuel its aggressive Bitcoin accumulation plan, further solidifying its position as one of the leading institutional holders of the cryptocurrency.
According to reports, Smarter Web issued 5.9 million new shares at a price of £2.95 each in an accelerated bookbuild. The impressive participation from qualified institutional investors has enabled the company to continue executing large-scale BTC transactions and reinforce its commitment to the long-term treasury strategy.
Notably, the latest Bitcoin purchases align with the company’s existing accumulation plan, which was announced in April. Since then, Smarter Web has consistently raised capital and executed significant BTC transactions. The recent raise adds momentum to this goal of becoming a leading institutional Bitcoin holder.
As a result of these recent transactions, Smarter Web now holds 1,600 BTC, placing it among the top 25 global holders. It’s noteworthy that the company has maintained its focus on Bitcoin as its primary treasury asset, setting it apart from its peers in the market.
Source: coincentral.com
