Summary
- The Smarter Web Company (SWC) announced that after its recent Bitcoin purchase, it raised approximately $56 million in funding.
- SWC's Bitcoin holdings recently increased to 543 BTC, but it was stated that it is not clear whether the new funds will be used for additional acquisitions.
- Although SWC has been executing a Bitcoin accumulation strategy, its stock price has recently been falling.
The Smarter Web Company (SWC), a web design and marketing firm based in the UK, has reportedly raised approximately $56 million from investors.
On the 27th (local time), crypto-focused media outlet Cointelegraph reported, "SWC has recently secured around $56 million (about 7.7 billion KRW) in funding from institutional investors, following its latest Bitcoin acquisition." It is not yet known whether the newly raised funds will be used for additional Bitcoin purchases.
SWC bought Bitcoin a total of five times this month, and its holdings increased from 83 BTC at the end of last month to 543 BTC currently. The company has supported Bitcoin payments since 2023.
Meanwhile, SWC is listed on the US market, but its stock price has recently been declining amid large-scale Bitcoin purchases. Since April, SWC has been implementing a reserve strategy for Bitcoin accumulation.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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