London-listed firm now ranks 23rd among public BTC holders
The Smarter Web Company, a London-listed web design and Bitcoin treasury firm, announced Tuesday it has purchased 295 BTC for £26.3 million ($35.2 million) at an average price of $119,412 per coin.
The acquisition was funded partly through a $10.2 million equity raise completed Monday and a $21 million Bitcoin-denominated bond offering last week.
This latest buy brings the firm’s total holdings to 2,395 BTC, acquired at an average of $110,555 each, for a total cost of $264.8 million. With Bitcoin trading near $118,920, the company’s stash is currently worth $284.8 million, representing an unrealized gain of about $20 million.
Smarter Web has been on an aggressive accumulation path, buying more than 1,500 BTC in July alone. This has pushed it from 36th to 23rd place in the global public company rankings of Bitcoin holders, with ambitions to crack the top 20 in the coming weeks.
Corporate Bitcoin treasuries now hold 791,662 BTC — nearly 4% of the circulating supply — crossing the $100 billion mark in July. Analysts warn this growing concentration of BTC among corporations could create systemic vulnerabilities in the event of regulatory or economic shocks.
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