UK-based The Smarter Web Company has successfully raised approximately $56.59 million days after acquiring $20 million worth of Bitcoin, increasing its holdings to over 540 BTC. The capital was raised from institutional investors through an accelerated bookbuild, resulting in 36.27 million British pounds from this method and an additional 4.97 million pounds via subscription. The shares were offered at £2.90 each and will take effect on July 1. This fundraising comes shortly after the company purchased 196.8 BTC at an average price of $103,290, bringing its average holding price close to $104,450 with a current value of around $58.19 million. Despite the increase in Bitcoin purchases, the company's stock has seen a decline of 15% amidst these acquisitions, trading at $3.56. Other UK firms are also increasing their Bitcoin holdings, focusing on strategies despite regulatory challenges.

Source 🔗