Smarter Web Company, the UK’s largest publicly traded Bitcoin holder, has purchased another 100 BTC valued at $12.1 million, paying an average price of $120,480 per coin.
The company’s press release confirms that the latest purchases have boosted the total holdings to 2,650 BTC, currently valued at $219.5 million.
The Bristol-based firm acknowledged that it remains committed to long-term value creation through its “10 Year Plan“ by converting treasury assets into Bitcoin while tapping capital markets for additional funding when conditions are favorable.
“We believe that Bitcoin is the best asset the world has ever seen,” said Andrew Webley, CEO of Smarter Web Company.”
“As a public company, SWC can use capital markets to raise funds and strengthen its balance sheet by accumulating Bitcoin,” he added
The company reports generating a BTC yield of 57,718% year-to-date, with net asset value growth of 50%.
Source: Smarter Web Company
The company shows no signs of slowing down.
In September, CryptoNews reported that the UK-listed company is considering acquisitions of struggling competitors to acquire their Bitcoin at discounted prices.
Founder Andrew Webley told the Financial Times that the firm would “certainly consider” buying other companies for their Bitcoin at a discount, noting that some crypto treasury companies now trade below the value of their Bitcoin reserves.
Webley acknowledged the sharp valuation swings, telling the publication that “we probably got overvalued and now we’re almost certainly undervalued,” while expressing concern for shareholders who have experienced the volatility.
Despite the share price correction, the company briefly achieved a £1 billion market capitalization over the summer and has gained approximately 150% year-to-date, outperforming all but one company in the FTSE 350.
The Smarter Web company is following a proven treasury strategy that has helped other public companies transform their financial narratives.
In 2020, Strategy (formerly MicroStrategy) adopted Bitcoin as its primary treasury asset in the US. Since then, other companies have followed, including Metaplanet in Japan and Capital B in France.
Today, over 100 public companies hold Bitcoin as a treasury asset.
When executed properly, this strategy has delivered strong results in major capital markets worldwide.
According to Bitcoin Treasuries, Smarter Web Company now ranks 30th among the top 100 public BTC treasury companies, ahead of American Bitcoin Corp, Microcloud Hologram, and HIVE Digital Technologies.