The Smarter Web Company Expands Bitcoin Holdings with Major Purchase

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.