UK’s Smarter Web Company Expands Bitcoin Holdings
The Smarter Web Company, a London-listed web design and marketing firm, has significantly increased its Bitcoin treasury. The company purchased an additional 230.05 BTC for £17.97 million ($24.7 million), bringing its total holdings to 773.58 BTC. This strategic move aligns with its 10-year plan to enhance long-term business value through Bitcoin accumulation.
Strategic Bitcoin Investment
According to a recent filing, The Smarter Web Company now holds Bitcoin acquired at an average price of £78,022 ($107,015), with a total investment exceeding $82.6 million. The company retains approximately £38 million ($52.3 million) in cash reserves for further Bitcoin purchases, demonstrating strong confidence in Bitcoin’s role in the future global financial system.
Fundraising and Shareholder Impact
The filing also detailed recent fundraising efforts that raised roughly £45 million ($62 million) through subscriptions and accelerated bookbuilds. These activities resulted in a 9% dilution of existing shareholders’ stakes. Andrew Webley, the CEO, and his family currently hold about 11.3% of the company, reflecting their commitment to the firm’s strategic direction.
Growing Trend Among UK Firms
The Smarter Web Company’s latest Bitcoin purchase reflects a broader UK Bitcoin trend, with at least nine small-cap companies on exchanges like Aquis announcing similar moves over the past week. This growing institutional adoption underscores increasing confidence in Bitcoin’s long-term value.
Key Facts
- The Smarter Web Company now holds 773.58 BTC.
- Total Bitcoin investment exceeds $82.6 million.
- Approximately $52.3 million available for further Bitcoin purchases.
- Recent fundraising efforts raised $62 million, diluting existing shareholders by 9%.
- CEO Andrew Webley and his family hold 11.3% of the company.
