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UK-based The Smarter Web Company has successfully raised £41.2 million shortly after expanding its Bitcoin holdings to over 540 BTC, signaling strong institutional confidence in crypto assets.
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The capital raise was executed through an accelerated bookbuild, allowing the company to swiftly secure funding without a traditional marketing campaign, reflecting strategic financial agility.
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According to COINOTAG, The Smarter Web Company’s aggressive Bitcoin acquisition strategy has increased its BTC portfolio by over 460 coins in less than a month, underscoring its commitment to digital asset treasury management.
The Smarter Web Company raises £41.2M after boosting Bitcoin holdings beyond 540 BTC, highlighting growing institutional interest in crypto treasury strategies.
Accelerated Bookbuild Raises £41.2 Million to Support Bitcoin Expansion
The Smarter Web Company’s recent capital raise of £41.2 million ($56.59 million) was conducted through an accelerated bookbuild, a method favored by firms aiming for rapid capital infusion with minimal market disruption. This approach enabled the company to raise £36.27 million via bookbuild and an additional £4.97 million through subscription, pricing shares at £2.90 each. The issuance is set to take effect from July 1, positioning the company to further capitalize on its Bitcoin acquisition strategy. This swift fundraising effort highlights the firm’s ability to attract institutional investors who are increasingly viewing Bitcoin as a strategic asset within corporate treasury portfolios.
Bitcoin Holdings Surge Past 540 BTC Amid Aggressive Treasury Strategy
Just days before the capital raise announcement, The Smarter Web Company disclosed a significant purchase of 196.8 BTC at an average price of $103,290, pushing its total holdings to 543.52 BTC. This represents a remarkable increase from 83.24 BTC at the end of May, reflecting a net addition of 460.28 BTC in under 30 days. The company’s average acquisition cost stands at approximately $104,450 per Bitcoin, with the current valuation of its holdings nearing $58.19 million. Initiated in April, the Bitcoin treasury strategy complements the firm’s earlier acceptance of Bitcoin as a payment method, signaling a broader integration of cryptocurrency within its business model.
Stock Market Reaction and Investor Sentiment
Despite the bullish Bitcoin accumulation, The Smarter Web Company’s shares (TSWCF) experienced a 15% decline on the OTCQB market, closing at $3.56 after an intraday low of $3.19. The stock further dipped 1.8% in after-hours trading to $3.49. This pullback may reflect short-term profit-taking or market caution amid the company’s aggressive crypto positioning. Nonetheless, the stock remains up 274% year-to-date, indicating strong investor interest over the longer term. The OTCQB listing provides access to US investors, expanding the company’s capital base and visibility within the growing crypto treasury niche.
Growing Trend of UK Firms Increasing Bitcoin Holdings
The Smarter Web Company is part of a broader movement among UK firms embracing Bitcoin despite regulatory uncertainties. London Stock Exchange-listed Vinanz recently acquired 37.72 BTC, raising its total to 58.68 BTC. Similarly, Abraxas Capital, a London-based investment firm, made headlines with a Bitcoin purchase exceeding $250 million in April. These developments underscore a rising institutional appetite for Bitcoin as a hedge and treasury asset within the UK market, even as regulatory frameworks continue to evolve.
Conclusion
The Smarter Web Company’s recent £41.2 million capital raise and substantial Bitcoin acquisitions exemplify a strategic pivot towards integrating digital assets into corporate treasury management. While the stock price has faced short-term volatility, the firm’s growing Bitcoin portfolio and successful fundraising highlight increasing institutional confidence in cryptocurrency as a long-term value store. As UK companies continue to expand their crypto holdings amid regulatory ambiguity, The Smarter Web Company’s approach may serve as a blueprint for others seeking to leverage Bitcoin’s potential within traditional business models.
