U.K’s 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 hit a significant point in its crypto treasury strategy, also known as the “10 Year Plan.” On July 7, the firm bought 226.42 BTC (BTC) with an average price estimated to be around $107,726 per Bitcoin. At the moment, the purchase is worth $24.67 million.
With its recent purchase, the Smarter Web Company’s Bitcoin holdings has reached a total of 1,000 BTC or equal to $108.9 million based on current market prices. This marks a significant step in the company’s long-held plan to establish a Bitcoin treasury massive enough throughout the next few years.
At press time, BTC has continued its trend of seeing modest gains throughout as it gradually bounces back from a brief slump earlier in the day. Bitcoin has jumped slightly by 0.77% in the past 24 hours. In the past week, BTC has only managed to gain a 0.66% boost.
The largest cryptocurrency by market cap is trading hands at $108,998. It managed to reach a peak of $109,574 today after slipping slightly below the $108,000 threshold.
In addition to the recent purchase, the company also provided details on its Bitcoin-related metrics. On a year-to-date basis, the Smarter Web Company has managed to generate 26,242% in BTC Yield from its Bitcoin treasury.
In the past month, the firm has achieved a BTC Yield of around 530% on its treasury’s current holdings. In addition, the company has a cash supply worth £42.3 million ($57.56 million) that it has prepared to buy more Bitcoin to grow its treasury.
Since early 2023, the Smarter Web Company has been accepting payments in BTC from its customers. However, it has only started buying Bitcoin to strengthen its financial position since April 28 this year. In just three months time, it has managed to accumulate 1,000 BTC in its holdings.
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