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Smarter Web Company Adds £17.5M to Fuel Bitcoin Accumulation Plan
In a significant move, Smarter Web has successfully raised £17.5 million through an equity offering to institutional investors, further solidifying its aggressive stance on accumulating Bitcoin (BTC) assets. This latest influx of capital will enable the company to expand its BTC reserves and accelerate its long-term treasury strategy.
The newly acquired funds have already been utilized to purchase 325 additional Bitcoin units at an average price of £83,525 per coin, taking the company’s total holdings to 1,600 BTC. As a result, Smarter Web now ranks among the global top 25 institutional holders of Bitcoin.
This significant development is part of the company’s ongoing commitment to prioritize its capital allocation towards Bitcoin, setting it apart from its peers in the market. Since announcing its treasury strategy in April, Smarter Web has consistently raised capital and executed large-scale BTC transactions.
Source: coincentral.com
