Bitcoin News Today: Smarter Web Confirms 1,600 Bitcoin Holdings Amid 29.3% Share Price Dip

Smarter Web, a prominent public company, has recently confirmed its position among the top 25 global firms holding Bitcoin on their balance sheets. This announcement was made by CEO Andrew Webley through a public post on July 19. The company disclosed that it holds 1,600 Bitcoin and has successfully raised £17.5 million in capital. Despite a 29.3% dip in its share price, Webley emphasized the company's strategic progress and long-term growth prospects.

Webley introduced a new valuation metric, the P/BYD (Price to Bitcoin Yield-to-Date), designed to evaluate companies holding Bitcoin. This metric is intended to serve as a blockchain-native counterpart to the traditional P/E ratio. The concept was shaped through conversations with institutional investors, and the company has published an analytics dashboard and research note to provide insights into its balance sheet and valuation.

In addition to its Bitcoin holdings, Smarter Web is focusing on internal growth and shareholder engagement. The company has been actively recruiting new talent, with several open roles currently being filled. Webley highlighted the importance of having an amazing team and confirmed that announcements regarding new hires will be made once finalized. The shareholder community has also grown, expanding from 3,400 to 3,600 members, with several community members credited for their engagement and outreach.

Webley also reflected on a week of media appearances and investor meetings, noting interviews with various Bitcoin-focused creators and meetings with institutional investors. He expressed gratitude for the support of institutional investors and reiterated his commitment to continuing these efforts. Additionally, he issued a warning about impersonation attempts on social media, clarifying that the company only uses its official email for communication.

Smarter Web continues to offer its core services, including web design and marketing, to businesses and commercial decision-makers. The company has also seen high demand for its branded merchandise, with nearly all stock sold out and plans to restock soon. This focus on core business operations, along with its strategic Bitcoin holdings, positions Smarter Web for continued growth and success in the market.