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LONDON - The Smarter Web Company PLC (AQUIS:SWC) has purchased an additional 226.42 bitcoin at an average price of £78,932 per bitcoin (approximately $107,726), according to a Monday press release.
The acquisition, valued at £17.87 million, brings the company’s total bitcoin holdings to 1,000 bitcoin with an average purchase price of £78,228 per bitcoin (approximately $106,766). The total investment in bitcoin now stands at £78.23 million.
The London-listed technology company, which provides web design, development, and online marketing services, reported it has approximately £42.3 million in net cash available for potential future bitcoin purchases.
According to the company statement, the bitcoin acquisition is part of its "10 Year Plan" which includes an ongoing treasury policy of acquiring the cryptocurrency. The company began accepting bitcoin as payment in 2023.
The Smarter Web Company noted that it considers bitcoin "a core part of the future of the global financial system" as it pursues both organic growth and corporate acquisitions.
The company has also released an updated investor presentation available on its website.
The Financial Conduct Authority (FCA) in the UK considers investment in bitcoin to be high risk, and the company acknowledged in its statement that cryptocurrency values can be volatile and are unregulated in the UK.
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