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LONDON - The Smarter Web Company PLC (AQUIS:SWC) has purchased an additional 325 bitcoin at an average price of £83,525 per bitcoin, according to a press release issued Wednesday.
The latest acquisition, valued at approximately £27.1 million ($36.5 million), brings the company’s total bitcoin holdings to 1,600 coins. The company’s average purchase price across all holdings stands at £79,534 per bitcoin, representing a total investment of £127.3 million.
The London-listed technology company, which provides web design, development and online marketing services, stated it has approximately £4 million in additional treasury funds available for potential future bitcoin purchases.
According to the announcement, the purchase aligns with the company’s "10 Year Plan" that includes an ongoing treasury policy of acquiring bitcoin. The company claims its bitcoin treasury has achieved a year-to-date yield of 39,258% and a 30-day yield of 419%.
Alongside the purchase announcement, Smarter Web Company released a research brief introducing a new metric called "P/BYD" (Price to Bitcoin Yield Ratio), which it describes as a tool for analyzing the performance and valuation of companies holding bitcoin as treasury assets.
The company began accepting bitcoin as payment in 2023 and has since incorporated bitcoin acquisition into its corporate strategy, stating it "believes that Bitcoin forms a core part of the future of the global financial system."
Smarter Web Company is listed on the Aquis Stock Exchange in London, the OTCQB in the United States, and the Frankfurt Stock Exchange.
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