The Aquis-listed web development firm, The Smarter Web Company, has acquired another batch of Bitcoin, accumulating 230.05 BTC for approximately $25 million on 1st July. This latest purchase puts the company’s total holding to 773.58 BTC, worth roughly $82.46 million.
As per the official release, the new purchase was carried out with an average purchase price of £78,103 ($107,126) per Bitcoin. The firm still has £38,000,000 net cash available in treasury, which will be used to execute further Bitcoin purchases.Â
Although smaller, compared to other market players, these latest acquisitions have made The Smarter Web Company ranking 36th among 135 public Bitcoin treasury firms—as per Bitcoin Treasuries data.
Primarily pricing web development services, The Smarter Web Company generates revenue from setup fees, annual hosting fees, and other optional charges. The firm started accepting Bitcoin payments in 2023 and began integrating a Bitcoin treasury policy in April.
Following the footsteps of MicroStrategy (Strategy), various development and publicly listed firms have started acquiring Bitcoin. Spanish coffee chain Vanadi Coffee has also entered the race with it recently approving a plan to invest up to $1 billion in Bitcoin.
Also read: Matrixport Predicts Bitcoin Price to Hit $116,000 in July
