Smarter Web Company Doubles Down: UK Firm Snaps Up 230 Bitcoin in $25M Power Move
London’s Smarter Web Company just made a bullish bet on Bitcoin—and Wall Street’s spreadsheet jockeys are scrambling to adjust their models.
The acquisition of 230.05 BTC for $25 million signals aggressive conviction in crypto’s long-game, even as traditional finance pundits clutch their pearls over ‘volatility.’
Who needs bonds when you’ve got digital gold, right?
Smarter Web Company stock price and trading volume | Source: Aquis
The strategy was successful, bringing its share price from £4.5 in April to a peak of £500 in June. Still, the firm has also shed 50% of its value since its peak.
London-listed firms join Bitcoin treasury race
Several London-listed firms are launching their own Bitcoin treasuries, irrespective of their Core business. For instance, AI services firm Tao Alpha announced plans to raise £100 million from investors to buy Bitcoin.
Tech firms are not the only companies entering the race. Panther Metals, a natural resources company, announced that it had bought one Bitcoin. The firm’s shares were up 81% in June, despite it reporting a £2.2 million loss in 2024.
Bitcoin treasuries seem an attractive way for firms to make traders interested in their stock price. Still, according to FT, most of these firms are small-cap and loss-makers, with very small trading volumes. This means that their share price can take off very quickly. However, the firms are also susceptible to major corrections.
