The Smarter Web Acquires 35 Additional Bitcoins, Total Holdings Reach 2,747

The Smarter Web Company has purchased an additional 35 Bitcoins (BTC), increasing its total holdings to 2,747. The company announced on the London Stock Exchange on the 2nd that the additional BTC purchase is part of its '10-year plan.' The average purchase price was £57,494 per BTC, with a total expenditure of £2,011,286. The company's average net purchase price for BTC is recorded at £82,562 per BTC. The cumulative total purchase amount for BTC is £235,544,889, while the total sales amount is £8,745,918, resulting in a net purchase amount of £226,798,971. The quarterly cumulative BTC return is -3.63%. This acquisition took place shortly after the resignation of Bitcoin strategy head Jesse Myers on September 1. The company stated that its Bitcoin financial policy remains unchanged and that the board will continue to oversee it. The Smarter Web is traded on the London Stock Exchange, the U.S. OTCQB, and the Frankfurt Stock Exchange under the symbols SWC, TSWCF, and 3M8, respectively. The company has withdrawn a total of £20.5 million from its Coinbase strategic credit line, which corresponds to a leverage ratio of approximately 14.80%. This loan is secured against existing BTC holdings and carries a variable interest rate of 6.00%. It was also disclosed that the UK Financial Conduct Authority considers Bitcoin investments to be high-risk.

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