Bitcoin Surges to $113,000 as The Smarter Web Company Buys 45 BTC
Bitcoin surpassed $113,000, with a 2.2% gain in the last 24 hours, indicating a sustained bull market.
- The Smarter Web Company confirmed a strategic Bitcoin purchase as part of its long-term treasury plan.
- Acquired 45 BTC at an average price of £82,919 ($111,758), totaling £3.73 million ($5 million).
- Total holdings now stand at 2,440 BTC, with an average purchase price of £82,409 ($111,071) and an aggregate investment of £201 million ($271 million).
- The company reported a year-to-date BTC yield of 56,105% and a 30-day yield of 28%, with £600,000 ($809 million) in cash available for further acquisitions.
- Since 2023, Bitcoin has been integrated into its core business strategy, allowing payments for services in BTC.
Current Market Context
Analysts describe the current Bitcoin bull market as balanced, contrasting previous cycles marked by volatility. Jason Pizzino noted this phase features measured gains and smaller corrections, with Bitcoin averaging three to four red months annually. The rise from $18,000 to over $110,000 occurred amid interest rates of 4.5-5.5%, challenging the notion that crypto thrives only with loose monetary policy.