The Smarter Web Company (LSE:SWC) purchased 19 Bitcoin at an average price of £57,971 per Bitcoin, costing £1.1m and lifting total Bitcoin holdings to 2,859 BTC.
The Smarter Web Company a UK web design and online marketing group that has adopted a Bitcoin treasury policy, says its total Bitcoin book now stands at £231.92m with a total average purchase price of £81,120 per Bitcoin. It also reported a quarter-to-date BTC Yield of 15.02%, measured from 31 March to date.
Following the purchase, total drawings under the Coinbase Strategic Credit Facility are £17.5m, representing an approximate leverage ratio of 11.77%. The company says the facility remains secured against its Bitcoin holdings, carries a variable interest rate of 6.75% to 7.25% and is repayable at the company's discretion without additional charges.
