The UK -based web design and marketing firm The Smarter Web Company has collected 41.2 million British pounds ($ 56.59 million), a few days after buying 196 bitcoins to add to its growing holdings.
Business – Union Said On Thursday, this growth came from institutional investors through a quick bookbuild, a process where a company quickly raises capital, usually within a day or two, without a marketing push.
The Hoshiyar Web Company raised 36.27 million British pounds ($ 49.8 million) with bookbuild and 4.97 million British pounds ($ 6.82 million) by membership. The proposal price was 2.9 British pounds ($ 3.98) per share.
The company hopes that the shares issued between the two offerings will be applicable from July 1.
Holdings have 540 bitcoins passed a few days after
Wake up two days after smart web company Said It spent more than $ 20 million to buy 196.8 bitcoins (BTC) at an average price of $ 103,290 each.
The company organized 543.52 BTC till Tuesday, bought at an average price of $ 104,450, a stand currently about $ 58.19 million.
The Hoshiyar web company has so far bought BTC five times in June, and its bitcoin stack has increased. From 83.24 BTC in late May 543.52 BTC, increase of 460.28 BTC in less than 30 days.
The firm started its bitcoin treasury strategy in April, but accepted bitcoin as payment from 2023.
Recently, the price of stock decreases between buying bitcoin
In the US, the smarter web company trades on the OTCQB, an over-the-counter market that includes the initial stage or developing companies.
The shares fell 15% in the Hoshiyar Web Company PLC (TSWCF) and the $ 3.19 was closed at $ 3.56 on Thursday after a low collision of $ 3.19, According For Google Finance.
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After the bell, its stocks fell 1.8% and ended the later session at $ 3.49. Despite the recent decline, the company’s stock is still 274% year-on-year.
UK firms buy bitcoins
Other UK companies are buying bitcoins despite the lack of clear laws of the country around digital assets.
On Tuesday, London’s stock exchange-list firm Vinanz, who brings herself to the market as a bitcoin Treasury company, said. Acquired 37.72 BTC to bring its total holdings to 58.68 BTC.
In April, London -based investment firm Abraxus Capital bought bitcoins of over $ 250 million.
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