The Smarter Web Company has acquired an additional 295 BTC for approximately $35.2 million, bringing its total holdings to 2,395 BTC. This positions the firm among the top 25 public bitcoin treasury companies, and it aims to further climb the ranks as it continues its aggressive acquisition strategy.
A report by K33 reveals that 25% of public bitcoin treasury firms are trading below the value of their BTC holdings, with average daily purchases at their lowest since May. This decline indicates a diminishing capacity for these companies to acquire more bitcoin, as lower market valuations and dilutive share issuance hinder capital raising efforts.