Bitcoin News Today: Smarter Web Raises £15.8M via UK’s First Bitcoin-Denominated Bond

The Smarter Web Company, a London-listed firm with an expanding Bitcoin portfolio, has successfully raised £15.8 million ($21 million) through a groundbreaking Bitcoin-denominated convertible bond offering—marking the first of its kind in the UK. The structure, dubbed Smarter Convert, allows investors to convert BTC-backed bonds into equity at a 5% premium over the reference share price of $2.60. This innovative approach enables the company to secure funding without immediate equity dilution, while also expanding its cryptocurrency holdings as part of its broader strategy to establish itself as a major player in the UK’s digital finance sector [1].

The 12-month convertible bond, denominated in Bitcoin, was fully subscribed and backed by Tobam, a French asset management firm that has long pioneered digital asset exposure for institutional clients. Tobam participated through three of its managed funds and currently oversees more than $2 billion in assets as of the end of 2024. The firm’s early adoption of Bitcoin in 2017 and continued expansion in the digital asset space provided a strategic fit for this offering [2].

The bond’s design offers flexibility for both investors and the company. If the firm’s share price appreciates 50% above the conversion price for 10 consecutive trading days, the company can trigger a diversion, allowing for early conversion into equity. For investors who choose not to convert, 98% of the principal will be repaid in Bitcoin at maturity, with the amount adjusted to reflect the prevailing BTC price at that time [3].

This structure supports The Smarter Web Company’s objective of raising capital without immediate dilution, while also increasing its Bitcoin holdings. As of the end of July, the firm held 2,050 BTC, valued at approximately $234 million, with an additional 225 BTC added in July as part of its long-term, bullish accumulation strategy. The latest capital raise is expected to further fuel the company’s ambitions to become one of the largest publicly listed firms in the UK, with continued integration of cryptocurrency into its corporate structure.

The bond offering provides a new model for capital raising in the crypto-aligned financial space, complementing traditional equity offerings while reducing dilution by approximately 5% at issuance. The success of Smarter Convert, alongside Tobam’s institutional backing, signals growing institutional interest in digital asset-linked financial instruments, potentially paving the way for broader adoption in traditional markets [2].

Sources:

[1] Cointelegraph, [https://cointelegraph.com/news/smarter-web-company-issues-21m-of-bitcoin-denominated-bonds](https://cointelegraph.com/news/smarter-web-company-issues-21m-of-bitcoin-denominated-bonds)

[2] AInvest, [https://www.ainvest.com/news/bitcoin-news-today-smarter-web-issues-uk-bitcoin-backed-21m-convertible-bond-2508/](https://www.ainvest.com/news/bitcoin-news-today-smarter-web-issues-uk-bitcoin-backed-21m-convertible-bond-2508/)

[3] Invezz, [https://invezz.com/news/2025/08/06/the-smarter-web-company-raises-15-8-million-via-uks-first-bitcoin-denominated-bond/](https://invezz.com/news/2025/08/06/the-smarter-web-company-raises-15-8-million-via-uks-first-bitcoin-denominated-bond/)