Smarter Web Company adds £2M of Bitcoin
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- Smarter Web Company bought 35 Bitcoin for £2.01 million.
- The purchase lifted its Bitcoin treasury to 2,747 BTC.
- The company has drawn £20.5 million from a Coinbase-backed credit facility.
Smarter Web Company (LSE:SWC) bought 35 Bitcoin (CRYPTO:BTC) for £2.01 million.
The purchase lifted the company’s Bitcoin holdings to 2,747 BTC under its 10 Year Plan.
The company paid an average of £57,494 for each Bitcoin in the latest purchase.
Smarter Web Company has now spent £226.8 million on net Bitcoin purchases, according to the company.
The company has also drawn £20.5 million from a credit facility secured through Coinbase.
The facility carries a variable interest rate of 6%, adding borrowing costs to the company’s Bitcoin strategy.
The latest purchase increases Smarter Web Company’s exposure to Bitcoin as it continues building its corporate treasury.
At the time of reporting, Bitcoin price was $76,652.96.
