The Smarter Web Company Expands Bitcoin Holdings with Major Purchase
Main Idea
The Smarter Web Company, a UK-based firm, has significantly expanded its Bitcoin holdings with a $35.2 million purchase, increasing its total Bitcoin portfolio to 2,395 BTC and achieving a paper profit of around 7.6%.
Key Points
1. The Smarter Web Company acquired 295 Bitcoins valued at $35.2 million, raising its total holdings to 2,395 BTC at an average cost of $110,555 per Bitcoin.
2. With Bitcoin's market price around $119,000, the company's portfolio is now worth approximately $285 million, yielding a paper profit of about $20 million (7.6%).
3. The company raised £10.17 million through issuing new shares and holds $942,000 in cash, which may be used for further Bitcoin purchases.
4. The company's market capitalization stands at $415.2 million, with shares trading at 224.50 pence, reflecting a weekly rise of 9.5%.
5. CEO Andrew Webley aims to break into the top 20 rankings of public companies by Bitcoin holdings, following a 55,069% year-to-date increase in their BTC yield metric.
Description
The Smarter Web Company acquired 295 BTC for $35.2 million, totaling 2,395 BTC. The company's BTC holdings value exceeds $285 million with a 7.6% profit. Continue Reading: The Smarter Web Company Expands Bitcoin Holdings with Major Purchase The post The Smarter Web Company Expands Bitcoin Holdings with Major Purchase appeared first on COINTURK NEWS .
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