The Smarter Web Company Adds $26M BTC to Treasury

The weather is hot, and so is the race of the public companies that have adopted the treasury model with the leading cryptocurrency asset.

The web design agency has been making weekly acquisitions and is currently ranked in the top 30.

Steady Growth

Based in the UK and publicly traded on the Aquis Stock Exchange (ticker: SWC), The Smarter Web Company, specializing in bespoke web solutions and online marketing, has purchased 225 bitcoins at an average price of £87,096 ($118,076 per unit).

In its Friday announcement, the firm disclosed that its total holdings are now 1,825 BTC, with an average purchase price of £80,466 ($109,088 per Bitcoin), making the total stash worth over $210 million, as per the most recent prices.

Alongside the news of the purchase, the enterprise also disclosed its financial statements. For the six months ended in April this year, their net cash and cash equivalents increased to £1,230,946M ($1.65 million). Comparing that to the same time last year, that number was just £21,577 ($29,000), representing growth of over 5,500%.

The company entered the Bitcoin accumulation race on April 28th with a 2.3 BTC purchase, valued at $215,695 at the time. It went public on Aquis just three days prior, raising £2 million ($2.68M) at the IPO.

Its holdings now place it in the 26th spot on the global rankings for public companies holding the asset, as per data taken at print time from BitcoinTreasuries.

Their Year-to-Date BTC Yield, which is a key performance indicator (KPI) that reflects the percentage change in the ratio of Total Bitcoin Holdings to Shares In Issue over a given period, is 43,787%, and the company has £1M ($1.34M) in net capital ready to be deployed for further purchases.

All According to Plan

The corporation is following its “10-year plan,” with the policy aligning with the Directors’ views that digital assets, including Bitcoin, provide a means to preserve value over time and serve as a hedge against inflation.

The overall goal is to enhance its treasury in the short term while implementing its organic growth strategy, which will then enable the medium-to long-term plan of making strategic acquisitions when appropriate.

Andrew Webley, the CEO, shared:

“We have a clear plan to deliver significant value for our shareholders, and today we document this so that our shareholders can share the exciting journey.

We are focused on accelerating short-term growth by scaling our proven core services, while
also exploring strategic acquisitions that could unlock compelling value.”