smarterweb

TD Cowen anticipates a 90 percent price increase for Bitcoin treasury firm Smarter Web following its proposed MORE preferred IPO which is expected to improve capital efficiency.

#SmarterWeb #BitcoinTreasury ‎

📰 TD Cowen raises TD Cowen's target price for Smarter Web, a bitcoin treasury company, from £0.64 to £0.73 and continues to maintain a “Buy” rating. According to the calculations in the report, this target price implies nearly 90% upside potential, so market discussion naturally heats up.

🔥 What’s really interesting isn’t just the target price increase, but that Smarter Web is planning to issue MORE perpetual preferred shares. In effect, the company gains an additional long-term funding channel—it no longer has to rely solely on common equity or debt to expand its bitcoin treasury.

💡 These preferred shares are expected to pay cumulative, variable-rate weekly dividends, and they come with liquidation preference and redemption rights, but no voting rights. For investors, returns and priority are clearer; for the company, the financing tool is also more flexible.

To be honest, this hasn’t fully materialized yet—the issuance still requires approval from shareholders and the UK FCA. TD Cowen views it as a sign that the bitcoin treasury company is moving toward maturity, but whether it can ultimately be issued smoothly is the first hurdle to clear.

🤔 Smarter Web also disclosed that, as of September 2, its BTC return rate for this year is about 11.5%. Do you think this “hold BTC + issue preferred shares” model can become the treasury company’s standard playbook?

#BTC #SmarterWeb #比特币财库 #preferred shares