📰 UK’s Largest Bitcoin Treasury, Smarter Web, Eyes Discounted Acquisitions Amid Market Turbulence
Smarter Web Company, based in Bristol, UK, is exploring strategic acquisitions of struggling competitors to acquire their Bitcoin holdings at discounted prices. Despite its shares plummeting 73% from their mid-June peak, the company remains a significant player in the corporate Bitcoin space. Founder Andrew Webley expressed interest in one particular acquisition target, though he declined to name it. He noted that some crypto treasury companies now trade below the value of their Bitcoin holdings, presenting potential opportunities.
The firm currently holds 2,470 Bitcoin, valued at approximately £200 million, as part of its long-term "10 Year Plan." This strategy has resulted in a 49,198% year-to-date Bitcoin yield, positioning Smarter Web among the top 25 global corporate Bitcoin holders. Innovative financing methods, including the UK's first Bitcoin-denominated convertible bond worth $21 million, have supported this accumulation.
Webley emphasized that the company is open to acquiring other firms for their Bitcoin assets at discounted prices, leveraging market conditions to strengthen its position in the crypto treasury sector.
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