Smarter Web Company Reaches 1,000 BTC Milestone

The U.K.-based Smarter Web Company recently hit a 1,000 BTC milestone in its crypto treasury strategy after its recent purchase of 226.42 BTC, reporting a 26,242% year-to-date yield.

According to a published press release, the London-listed technology company has achieved a significant point in its crypto treasury strategy, also known as the “10 Year Plan.” On July 7, the firm bought 226.42 BTC at an average price estimated to be around $107,726 per Bitcoin. Currently, this purchase is worth $24.67 million.

With this acquisition, Smarter Web Company’s Bitcoin holdings have reached a total of 1,000 BTC, valued at approximately $108.9 million based on current market prices. This is a notable step in the company’s long-held plan to establish a substantial Bitcoin treasury over the coming years.

At press time, Bitcoin (BTC) continued modest gains as it bounces back from a brief slump earlier in the day, having increased by 0.77% in the past 24 hours. In the past week, BTC has gained 0.66%.

The largest cryptocurrency by market cap is currently trading at $108,998, having peaked at $109,574 today after dipping below the $108,000 mark.


Additional Insights

In addition to the recent purchase, the company shared its Bitcoin-related metrics, achieving a 26,242% BTC yield year-to-date from its treasury. In the past month, the firm recorded a BTC Yield of around 530% based on current holdings. Moreover, the company holds a cash supply worth £42.3 million ($57.56 million) designated for further Bitcoin acquisitions.

Since early 2023, Smarter Web Company has been accepting payments in BTC from its customers but began actively purchasing Bitcoin to bolster its financial position starting on April 28 this year. Within three months, it has successfully accumulated 1,000 BTC in its holdings.

Read more: UK’s Smarter Web Company adds 196 Bitcoin to balance sheet amidst Iran-fueled price rebound