The Smarter Web Company Acquires $36M in Bitcoin

The Smarter Web Company, a UK-based web design firm, has transformed into a bitcoin treasury company and recently announced its acquisition of an additional 325 BTC for £27.15 million ($36.45 million), averaging £83,525 ($112,157) per bitcoin. The firm now holds a total of 1,600 BTC, purchased at an average price of £79,534 ($106,798), costing £127.25 million ($170.88 million). This positions The Smarter Web Company among the top 25 public bitcoin treasury companies, surpassing Fold's 1,488 BTC, as reported by Bitcoin Treasuries. With bitcoin's current trading price at $118,850 and a recent all-time high of over $123,000, the company sees an 11.3% increase on its investment, totaling an unrealized gain of roughly $19.26 million. Additionally, they hold £4 million ($5.36 million) in cash reserves. The rapid acquisition pace, which included more than 1,056 BTC in July alone, has propelled The Smarter Web Company up from 36th to a potential spot in the top 20 bitcoin treasury holders, as CEO Andrew Webley aims for further advancement. Currently, bitcoin miner HIVE Digital leads with 2,201 BTC, while other companies like Strategy, Tether-backed Twenty One, and Riot Platforms occupy the top positions with substantial BTC holdings. The Smarter Web Company offers various services, including web design and online marketing, generating revenue through setup fees and annual hosting charges. Since 2023, they have accepted bitcoin payments and initiated a bitcoin treasury policy in April, reflecting their belief in bitcoin's importance in the future of finance. Their 10-Year Plan, guided by David Bailey and UTXO Management, focuses on organic client growth and selective bitcoin acquisitions to provide long-term shareholder value. Additionally, the company introduced a new metric, the 'P/BYD ratio,' for analyzing bitcoin treasury companies’ performance, akin to the P/E ratio used in traditional finance. In related news, bitcoin reached an all-time high against the pound sterling, reflecting the trends in both US and UK markets regarding bitcoin acquisitions. The Smarter Web Company stands as the largest among over a dozen UK firms with similar treasury strategies, with Tao Alpha (soon to be Satsuma Technology) being a notable potential competitor. Listed on the Aquis Stock Exchange under the ticker SWC, The Smarter Web Company's stock rose dramatically after announcing its bitcoin strategy but faced volatility, ultimately trading at a 2.9% decrease on Wednesday at £290.