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Smarter Web Company Adds £17.5M to Fuel Bitcoin Accumulation Plan
In a significant move, Smarter Web has successfully concluded an equity offering of £17.5 million to institutional investors, further fueling its aggressive Bitcoin accumulation plan. This substantial injection of funds will enable the company to expand its Bitcoin holdings and strengthen its position as a leading institutional Bitcoin holder.
According to sources close to the matter, Smarter Web purchased 325 BTC on July 16 at an average price of £83,525 per coin, bolstering its treasury strategy. The recent transaction adds to the company’s existing portfolio, which has grown significantly since it embarked on its long-term treasury strategy in April.
With this new funding, Smarter Web now holds a substantial 1,600 BTC, solidifying its presence among the global top 25 institutional Bitcoin holders. This impressive feat is all the more remarkable given that the company has consistently allocated nearly all capital raised to Bitcoin, distinguishing it from peers in the market.
The successful equity offering, managed by Tennyson Securities and Peterhouse Capital Ltd., attracted significant interest from qualified institutional investors. The strong participation in the bookbuild resulted in a seamless close of the transaction, validating Smarter Web’s bold vision for the cryptocurrency.
As part of its 10-year treasury strategy, Smarter Web aims to hold Bitcoin long-term as a strategic reserve, further solidifying its position as a dedicated institutional BTC holder.
Source: coincentral.com
