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Smarter Web Company Adds £17.5M to Fuel Bitcoin Accumulation Plan
In a significant move, Smarter Web has announced the addition of £17.5 million in funds from an equity offering to institutional investors. This substantial injection of capital will be used to fuel its aggressive Bitcoin accumulation plan.
According to the official announcement, the company has successfully raised £17.543 million through the issue of 5,947,099 new ordinary shares at £2.95 per share. The impressive sum is a testament to the trust institutional investors have placed in Smarter Web’s vision for cryptocurrency.
As part of its long-term treasury strategy, Smarter Web has been consistently raising capital and executing large-scale BTC transactions since announcing its Bitcoin accumulation plan in April. With this latest raise, the company now holds an impressive 1,600 BTC, solidifying its position among the global top 25 institutional Bitcoin holders.
The firm’s unwavering commitment to Bitcoin distinguishes it from its peers in the market. By allocating nearly all capital raised to Bitcoin, Smarter Web has demonstrated a unique strategy that is setting a new standard for institutional investors.
In the latest development, the company purchased 325 BTC on July 16 at an average price of £83,525 per coin, followed by another acquisition of 275 BTC earlier this month at an average price of $108,182.
Source: coincentral.com
