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LONDON - The Smarter Web Company PLC (AQUIS:SWC | OTCQB:TSWCF) has purchased an additional 196.90 bitcoin at an average price of £77,122 per bitcoin, according to a statement released Tuesday.
The London-listed technology company spent approximately £15.2 million ($20.3 million) on the acquisition, bringing its total bitcoin holdings to 543.52 bitcoin valued at £42.4 million.
The purchase is part of the company’s "10 Year Plan" which includes an ongoing treasury policy of acquiring bitcoin as a store of value, the company stated in its press release.
The Smarter Web Company, which provides web design, development and online marketing services, has been accepting bitcoin payments since 2023.
The average purchase price across all of the company’s bitcoin holdings now stands at £77,988 per bitcoin ($104,450).
The acquisition represents a significant financial commitment for the technology firm, which has positioned cryptocurrency holdings as part of its corporate strategy alongside its core business operations and acquisition plans.
The company’s board noted in its statement that while it considers holding bitcoin to be in the company’s best interests, it acknowledges the high-risk nature of cryptocurrency investments as recognized by UK financial regulators.
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