The Smarter Web Company Acquires 295 Bitcoin for $35.35 Million
The Smarter Web Company has acquired an additional 295 BTC for $35.35 million, averaging $119,412 per coin. This purchase increases its holdings to 2,395 BTC and total investments in Bitcoin to $265.17 million at an average price of $110,555 per BTC.
Key Details
- The acquisition is part of a "10 Year Plan" focused on Bitcoin accumulation.
- The company has approximately $940,796 in net cash available for future purchases.
- YTD returns on BTC holdings are reported at 55,069% and 76% over the last 30 days.
- Recently raised $21 million through the UK’s first Bitcoin-denominated convertible bond.
- The bond includes protections for investors and issuers, with forced equity conversion terms.
- Current price of BTC is $118,000, reflecting a 2.6% drop in the past 24 hours.
- Analysts suggest potential further declines, with a test of $116,800 possible before any rebound.
- A break above $126,000 could lead to a rapid price surge.