Smarter Web Stock Soars 254% on Bitcoin Reserve Strategy

The Smarter Web Company, a British web design and online marketing firm based in Bristol, has seen a remarkable surge in its stock price this month, with a 254% increase. This surge is attributed to the company's strategic decision to build up its Bitcoin reserves, which now stand at 543.52 BTC. The company's stock has risen from £4.50 to £292.50 since its April IPO, marking an impressive return of over 6,400%.

The company's market capitalization has also seen a significant rise of 254% since the beginning of June, following several Bitcoin purchases made on June 5, June 10, June 13, June 19, and the most recent one. The funds for these purchases have primarily come from the sale of ordinary shares, with the company raising over $74.9 million since April. The company aims to reach a Bitcoin reserve of 1,000 BTC within the next 3-4 months.

CEO Andrew Webley has described the company's IPO as "the most successful IPO in the UK ever," noting that the sudden increase in share price has inspired over 21 other companies to announce similar Bitcoin reserve strategies. However, Webley has expressed concern about some of these copycat firms, suggesting that not all of them have actually acquired any Bitcoin despite their announcements. He has reported this issue to the Aquis Stock Exchange.

Webley's interest in Bitcoin stems from his belief in its fixed supply and decentralization, describing it as "the best asset in the world." He acknowledges the volatility of Bitcoin but believes it has become more stable over the past six to 12 months. The company's BTC reserve policy is intended to complement and support its original lines of business, rather than replace them. Webley sees the potential for Bitcoin to drive growth in the company's services and increase its visibility.