London-listed tech firm The Smarter Web Company has significantly boosted its Bitcoin treasury following a highly successful fundraise. The company acquired 104.28 BTC on June 19 at an average price of £77,751 per coin spending over £8.1 million. This brings its total holdings to 346.63 BTC valued at more than £27 million in total investments.

Strong investor interest helped the company raise around £29.3 million nearly double its £15 million goal. The capital was raised through institutional bookbuilding and qualified investor subscriptions. While the raise led to a 7.39% dilution in shareholder ownership existing shareholders including directors retained their number of shares.

The company is committed to its long term “10 Year Plan” which includes a growing Bitcoin reserve as a core financial strategy. Just days before this latest buy it had acquired 74.27 BTC for nearly £6 million. With this recent addition its BTC holdings have surged by over 43% in less than a week.

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