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LONDON - The Smarter Web Company PLC (AQUIS:SWC) announced Wednesday it has purchased an additional 225 bitcoin at an average price of £88,482 ($118,080) per bitcoin, representing a total investment of £19.9 million.
According to the company’s press release statement, this acquisition brings its total bitcoin holdings to 2,050 bitcoin with an average purchase price of £81,346 ($108,556) per bitcoin, amounting to a cumulative investment of £166.8 million.
The London-listed technology company, which provides web design, development, and online marketing services, described the purchase as part of its "10 Year Plan" that includes an ongoing treasury policy of acquiring bitcoin.
The company reported it has approximately £500,000 in net cash available for potential future bitcoin purchases.
The Smarter Web Company, which began accepting bitcoin as payment in 2023, stated in its announcement that it "believes that Bitcoin forms a core part of the future of the global financial system."
The firm disclosed what it terms as "BTC Yield" metrics, reporting a year-to-date yield of 49,198% and a 30-day yield of 224% on its treasury. The company defines this metric as a key performance indicator reflecting the percentage change in the ratio of total bitcoin holdings to shares in issue over a given period.
The Smarter Web Company trades on multiple exchanges including AQUIS Exchange, OTCQB, and the Frankfurt Stock Exchange.
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