Bitcoin News Today: Smarter Web Bets Big on Bitcoin’s Future with £201M Treasury Gamble

Smarter Web Company, a London-listed technology firm, has increased its Bitcoin treasury by 45 BTC, bringing its total holdings to 2,440 BTC following an acquisition valued at £3.73 million ($3.7 million). This latest purchase, made at an average price of £82,919 ($111,758) per Bitcoin, aligns with the company’s “10 Year Plan,” a strategic initiative to integrate Bitcoin into its financial structure. The company’s overall average cost per Bitcoin now stands at £82,409 ($111,071), with a cumulative investment of approximately £201.1 million in the digital asset to date. The purchase was partially funded through a share issuance program that raised £3.66 million, with 97% of the proceeds allocated to the treasury as of the latest update [2].

Smarter Web has reported impressive returns on its Bitcoin holdings, achieving a year-to-date BTC yield of 56,105% and a 30-day yield of 28%. These figures underscore the effectiveness of the company’s treasury strategy, which is designed to steadily increase Bitcoin exposure while maintaining sufficient liquidity for operational needs. CEO Andrew Webley emphasized the importance of this strategy, stating that it supports the company’s long-term financial goals and positions it to benefit from Bitcoin’s potential as a store of value and growth asset [2]. The company currently holds approximately £600,000 in net cash that is earmarked for further Bitcoin acquisitions, reinforcing its commitment to the digital asset [2].

The company’s governance structure has also seen an update, with PKF Littlejohn LLP appointed as the new independent auditor following a competitive tender process. This follows the resignation of Adler Shine, the previous auditor. The change in oversight is part of Smarter Web’s broader efforts to maintain strong corporate governance and transparency as it expands its digital treasury. Webley expressed appreciation for Adler Shine’s prior contributions and welcomed the new auditor as the company enters a new phase of growth and strategic execution [2].

Smarter Web’s decision to incorporate Bitcoin into its treasury strategy reflects a growing trend among firms seeking to diversify their asset bases with digital currencies. The company’s approach is predicated on a belief in Bitcoin’s long-term value, despite the inherent volatility and regulatory uncertainties associated with the asset class. According to the company’s disclosures, it is not an investment vehicle for Bitcoin, but it is materially exposed to the digital asset through its treasury holdings. The board has acknowledged the risks, including price volatility, unregulated markets, and potential operational challenges such as cyber threats and liquidity constraints [3]. However, it remains committed to the strategy, citing its alignment with the company’s vision for the future of finance.

The company has also outlined its broader business model, which includes web design, development, and online marketing services, with growth opportunities derived from both organic expansion and potential acquisitions. Since 2023, Smarter Web has accepted Bitcoin as a form of payment, further embedding the cryptocurrency into its operations. The firm continues to explore acquisition opportunities and will pursue them only when management deems the timing and strategic fit appropriate [3]. As part of its long-term vision, the company aims to leverage Bitcoin’s potential while maintaining operational flexibility and shareholder value.

Source:

[1] Smarter Web Company Adds 45 BTC, Now Holds 2440 (https://coinpedia.org/crypto-live-news/smarter-web-company-adds-45-btc-now-holds-2440/)

[2] Smarter Web Treasury Holds 2440 BTC After Latest $3.7M Buy (https://coinfomania.com/smarter-web-treasury-holds-2440-btc-after-latest-3-7m-buy/)

[3] Bitcoin Purchase | Company Announcement | ... (https://www.investegate.co.uk/announcement/rns/the-smarter-web-company-plc--swc/bitcoin-purchase/9076540)