U.K. Tech Firm Bets Big on Bitcoin—Drops $2.7M Amid Institutional Frenzy

Another day, another corporate treasury diving headfirst into crypto—this time it’s the U.K.’s Smarter Web Company loading up on Bitcoin. Because why bother with boring old bonds when you can ride the volatility rollercoaster?

The move signals growing institutional FOMO, even as traditional finance pundits clutch their pearls. $2.7 million might be pocket change for Wall Street, but in crypto? That’s a statement.

Funny how ‘smarter’ money keeps chasing the asset class bankers claimed was dead. Again.

At press time, Bitcoin has dipped by 0.96% in the past 24 hours. The largest cryptocurrency by market cap is currently trading hands at $107,910. In the past week, BTC has gone down by 2.78%, bringing the ongoing rally to a temporary slow-down. Recently, BTC managed to break through the $110k threshold, settling into a new all-time high at $111,814.

In the past, there have been a number of companies that have adopted a similar strategy of accumulating Bitcoin holdings, reflecting a broader global trend led by companies like Strategy in the U.S. and Metaplanet in Japan.

Last April, another U.K.-listed company, Abraxas Capital, purchased nearly 3,000 BTC, which was worth $250 million at the time of purchase.