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LONDON - The Smarter Web Company PLC (AQUIS:SWC) announced Tuesday it has purchased an additional 10 bitcoin at an average price of £83,258 (approximately $111,591) per bitcoin, according to a company press release.
The latest acquisition, valued at £832,584, brings the London-listed technology company’s total bitcoin holdings to 2,660 bitcoin. The company’s overall average purchase price stands at £82,858 ($111,054) per bitcoin, with total investments in the cryptocurrency amounting to £220,402,717.
The Smarter Web Company, which describes itself as the UK’s largest publicly traded company holding bitcoin on its balance sheet, made the purchase as part of its "The 10 Year Plan" that includes an ongoing treasury policy of acquiring bitcoin.
The company reported it has achieved a quarter-to-date BTC Yield of 1.70% on its treasury. BTC Yield is defined as the percentage change in the ratio of total bitcoin holdings to fully diluted shares outstanding over a specific period.
The Smarter Web Company provides web design, development and online marketing services. Since 2023, the company has accepted payment in bitcoin and has incorporated a Bitcoin Treasury Policy into its corporate strategy.
The company’s bitcoin holdings expose it to cryptocurrency market volatility. In its statement, The Smarter Web Company acknowledged that bitcoin is unregulated in the UK, and the company is not protected by the UK’s Financial Ombudsman Service or Financial Services Compensation Scheme.
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