- Smarter Web expands Bitcoin treasury, aims for top corporate holder status soon.
- Company’s ten-year plan adds 325 BTC, boosts treasury yield dramatically higher.
- Smarter Web sees Bitcoin as hedge, plans more steady annual purchases.
The Smarter Web Company is doubling down on Bitcoin. On July 16, the London-listed tech firm announced that it bought another 325 BTC. The most recent acquisition came at a price of 27.15 million pounds, or approximately 36.45 million dollars.
Smarter Web Sees 39,000% Yield, Bets Big on Bitcoin Future
This latest purchase is an initiative of what Smarter Web terms as its 10-Year Plan. In this scheme, the firm will buy more Bitcoin annually for its treasury. The target is to create a robust long-term reserve of digital assets.
This latest acquisition has increased Smarter Web’s total Bitcoin reserves to 1,600 BTC. The average price of these coins that the company purchased is 79,534 Pounds per coin, which is approximately 106,798 dollars per coin.
As per the official update, the value of the Bitcoin treasury of this firm exceeds 127 million pounds. Due to the rise in the price of Bitcoin, the treasury of the company has already gained a significant yield. BTC yield so far is more than 39,000%. The Bitcoin reserves of the company have seen a 419 percent gain in the past 30 days alone.
Smarter Web has not been shy of expressing its beliefs in Bitcoin. In 2023, it began to accept payment in Bitcoin from customers. Since then, the company has diverted its attention towards utilizing Bitcoin as a reserve asset. It thinks that Bitcoin will be significant in the future of money.
For this reason, Smarter Web will continue to purchase Bitcoin every time it gets an opportunity. It currently retains about 4 million pounds in cash reserves that can be utilized to purchase additional coins in case of necessity.
The CEO of Smarter Web explained that the company regards Bitcoin as a smart hedge. The company is holding Bitcoin in the treasury in order to hedge its money against inflation and risks associated with traditional currency.
Smarter Web Sees Bitcoin as Digital Gold, Expands Holdings Steadily
In its official statement, the company said that its strategy is simple but powerful. It desires to accumulate a huge number of Bitcoins gradually. In the next 10 years, it intends to be synonymous with being among the largest corporate owners of Bitcoin.
Based on statistics of leading Bitcoin monitors, Smarter Web has become one of the 25 largest institutional Bitcoin owners in the world. This puts it in the same line with such household names as MicroStrategy and Tesla.
Moreover, the fact that Smarter Web continues to acquire Bitcoin indicates that additional businesses are convinced that Bitcoin is the digital gold. Not only are payments made through it. More companies consider Bitcoin as a form of storing value to accumulate wealth.
The move has also been embraced by the investors of the company. They are confident that the 10-Year Plan is a clear indicator that Smarter Web thinks ahead. Most technology firms are struggling to keep their cash robust. Smarter Web has opted to use Bitcoin as its resource to that end.
To sum up, the increasing Bitcoin treasury of Smarter Web is an indicator of the changing times. It indicates that Bitcoin is finding its way into the balance sheets of serious businesses. Since Smarter Web continues to acquire, it may encourage additional companies to do the same.
Smarter Web has made it clear that it has a plan in place and more cash to invest. It is putting money on Bitcoin over the next 10 years.
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