London listed The smartest web company (LSE: SWC) revealed on May 26 that it had acquired 10 bitcoins at an average price of £55,786 per coin, equivalent to about US$74,904. The total purchase amounted to £557,865 bringing the company’s total Bitcoin holdings to 2,869 BTC.
The company’s cumulative investment in Bitcoin now stands at £232.48 million, with an average acquisition cost of £81,032 ($109,000) per Bitcoin, highlighting that the latest purchase was executed at well below its total cost basis.
The company relied on Bitcoin as a treasury reserve asset, and placed it as a key component of its capital allocation framework.
Management said the company had a quarterly Bitcoin return of 15.43%, a metric it uses to measure the change in Bitcoin holdings compared to its fully diluted share count. The KPI reflects the company’s focus on cumulative Bitcoin accumulation rather than short-term price movements.
The latest acquisition follows the continued use of credit facilities arranged with Coinbase, under which the company has drawn £18 million to date. This represents an approximate leverage ratio of 12.19%, underscoring the company’s desire to use debt financing to expand its exposure to Bitcoin.
Coinbase facilities are secured against the company’s existing BTC holdings and carry a variable interest rate ranging from 6.75% to 7.25%. It is worth noting that the loan can be repaid at the company’s discretion without penalty, providing flexibility in managing leverage depending on market conditions.
Bitcoin as a treasury asset
The smartest web companywhich provides web design, development and online marketing services acceptance BTC payments in 2022 and has since integrated the asset into its broader company strategy. Along with organic growth, the company is also pursuing acquisitions aimed at expanding its customer base and recurring revenue stream.
The move places Smarter Web Company among a growing group of publicly traded companies that are adopting Bitcoin-centric treasury models, echoing strategies pioneered by firms like Strive and Strategy.
Just today, Strive’s SATA preferred stock has absorbed nearly 453 BTC — exceeding its entire daily mining supply — marking a record high in demand that underscores its meteoric rise as a major means of accumulating Bitcoin and a growing challenger to Strategy’s dominance in treasury growth.
Over the past two weeks, the MSTR strategy Shift focus From buying Bitcoin, it bought back $1.5 billion of its convertible debt at an 8% discount, reducing liabilities while preserving capital. At the same time, the company continued to grow its Bitcoin position by issuing shares, bringing total holdings to 843,738 BTC as it actively rebalanced its balance sheet.
