In the grand tradition of lemmings rushing headlong towards the abyss, The Smarter Web Company has joined the ranks of the Bitcoin besotted, upping its treasury holdings to a whopping 1,275 BTC. And what a time to do it, as the cryptocurrency du jour hits a new all-time high! 🚀
Like a ship of fools sailing into the great unknown, The Smarter Web Company, a London-listed Bitcoin treasury company, proudly announced the purchase of an additional 275 Bitcoin (BTC) on July 11. The average price of this latest indulgence? A mere £79,563 ($108,182) per BTC, totaling a trifling £21.88 million. With this purchase, the company’s total Bitcoin holdings have ballooned to 1,275 BTC, acquired at an average price of £78,516 ($106,719) per BTC, with a total investment of approximately £100.1 million. One wonders if they’ve considered the old adage, “pride comes before a fall.” 😏
This latest escapade follows hot on the heels of the company’s July 7 acquisition of 226.42 BTC, which pushed its total holdings to 1,000 BTC, a milestone in its treasury strategy that’s sure to be remembered for ages to come. At that point, the firm reported a year-to-date BTC yield of 26,242%, a figure that’s now climbed to a dizzying 31,263%, as Bitcoin itself hits a new all-time high of $118,000. One can almost hear the champagne corks popping in the background. 🥂
But wait, there’s more! The Smarter Web Company also reported a 30-day BTC yield of 497% and confirmed that it has roughly £31 million in cash reserves available for further Bitcoin purchases. Because, as we all know, the best way to make money is to throw it at a cryptocurrency that’s as volatile as a scorned lover. 💸
In a move that’s sure to be remembered as a stroke of genius (or folly), The Smarter Web Company has accepted BTC as a payment option for its customers since early 2023. And in April this year, the company adopted a Bitcoin treasury strategy, because who needs a diversified portfolio when you can put all your eggs in one basket? 🥚
As the company’s “10 Year Plan” unfolds, one can’t help but wonder if they’ve considered the old Russian proverb, “don’t put all your eggs in one basket, or you’ll end up with egg on your face.” 😂 Meanwhile, other European firms are following suit, because who wouldn’t want to join the Bitcoin party? 🎉 And alternative corporate crypto treasury strategies involving Ethereum (ETH), Ripple (XRP), Solana (SOL), and Binance Coin (BNB) are also beginning to gain traction, because why settle for just one cryptocurrency when you can have them all? 🤪
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2025-07-11 11:49