U.K.’s Smarter Web Company adds $2.7m worth of Bitcoin to its holdings

The Smarter Web Company recently added 24.53 BTC to its Bitcoin treasury, vowing to continue its long-term BTC accumulation strategy dubbed ‘the 10 year plan.’

On May 29, the U.K.-listed technology and digital services provider recently invested £2 million or around $2.7 million into Bitcoin (BTC). With this purchase, the firm added 24.54 BTC to its crypto-based treasury, with each Bitcoin valued at approximately $109,828.

At press time, the company has amassed a total of 83.24 BTC in its holdings, which is equal to around $8.8 million. While the company’s Bitcoin accumulation strategy is still in its early stages, having just begun purchasing BTC earlier this year in April, its recent purchase boosted its Bitcoin holdings by nearly 30%.

This recent purchase has indicated that Smarter Web Company plans to continue its “10 Year Plan,” which includes a digital asset treasury strategy focused primarily on Bitcoin. The company has accepted Bitcoin as a form of payment since as early as 2023.

“In addition to organic growth, the Company will progress an acquisition strategy targeting other businesses with a view to growing its number of clients and/or recurring revenue,” wrote Smarter Web in its statement.

At press time, Bitcoin has dipped by 0.96% in the past 24 hours. The largest cryptocurrency by market cap is currently trading hands at $107,910. In the past week, BTC has gone down by 2.78%, bringing the ongoing rally to a temporary slow-down. Recently, BTC managed to break through the $110k threshold, settling into a new all-time high at $111,814.

In the past, there have been a number of companies that have adopted a similar strategy of accumulating Bitcoin holdings, reflecting a broader global trend led by companies like Strategy in the U.S. and Metaplanet in Japan.

Last April, another U.K.-listed company, Abraxas Capital, purchased nearly 3,000 BTC, which was worth $250 million at the time of purchase.