- The Smarter Web Company has purchased 45.32 Bitcoin at an average price of $104,935.
- This acquisition increased the company’s total Bitcoin holdings to 168.08 BTC.
- The firm’s total investment in BTC has reached $17.7 million, with an average dollar cost of $105,779.
UK-based The Smarter Web Company expanded its Bitcoin holdings by acquiring 45.32 BTC for $4.73 million this month. With this latest move, its total holdings stood at 168.08 BTC, almost 55% up from the last purchase. The time to buy this acquisition was during the high greed index of 71 sentiment on the market.
The company began its Bitcoin accumulation strategy in April as part of its long-term treasury plan, “The 10 Year Plan.” It continues to allocate capital to BTC, citing it as a foundational digital asset. The firm also reported a total investment of $17.7 million at a dollar cost average of $105,779 per Bitcoin.
The Smarter Web Company also accepts Bitcoin for payments, a policy initiated in 2023 to align with its digital finance goals. It integrates BTC into its corporate structure alongside expansion plans involving mergers and organic growth. This positions the company among a rising number of public firms incorporating Bitcoin into balance sheets.
Bluebird Mining Converts Revenue to Bitcoin
Bluebird Mining Ventures Ltd, a UK-listed gold miner, announced plans to shift future operational revenues into Bitcoin. The firm intends to become the first publicly traded UK mining company with a BTC-centric treasury strategy. This is an industry-wide pivot to digital assets as a store of value.
The move followed BTC’s surge to a record high of $111,965 in May, encouraging corporate shifts in capital management. Bluebird sees BTC as a hedge and plans consistent conversions as revenue grows. The move comes at a time when the whole world has shown increasing interest in cryptocurrency.
Other companies in the UK are evaluating similar strategies as Bitcoin continues to outperform traditional assets. Capital-heavy segments are becoming increasingly interested in treasury models related to digital assets. With this approach, firms aim to stabilize long-term reserves and benefit from projected BTC appreciation.
IG Group and Crypto Accessibility
IG Group, a UK-listed trading platform, launched a new service for direct retail access to BTC, Ethereum, and Ripple. In the offering, they intend to offer buying and selling individual cryptocurrencies to boost its retail access through their regulated platform. IG Group is the first firm on the London Stock Exchange to provide investors with this feature.
It came when interest in buying direct exposure to cryptocurrencies, such as Bitcoin or Ethereum, without using ETFs or funds in the market, was rising. This diversifies IG Group’s asset offering, meaning the company is targeting increased platform engagement. Such demand will bring more trading volumes as the platform catches a larger user base.
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