Tech Firm The Smarter Web Purchases £8.1 Million Worth of Bitcoin for Treasury Reserves
In a recent development, The Smarter Web Company has announced updates to its shareholding structures and Bitcoin holdings. The company, which believes Bitcoin forms a core part of the future of the global financial system, has increased its Bitcoin holdings by acquiring an additional 104.28 Bitcoin. The average purchase price of each Bitcoin was £77,751 ($104,451), bringing the total value of its Bitcoin holdings to £27.2 million. This latest Bitcoin purchase is part of the company's long-term Bitcoin strategy under its "10 Year Plan." Since 2023, The Smarter Web Company has adopted a policy of accepting payment in Bitcoin. In a related move, the company has signed a Subscription Agreement for up to 21 million new Ordinary Shares. According to the agreement, an initial tranche of 7 million shares is available immediately, with further tranches potentially issued in the coming months. For each tranche of new Ordinary Shares thereafter, Shard shall use reasonable endeavors to place them within 3 months from subscribing for them. Shard shall use reasonable endeavors to place a first tranche of 7 million new Ordinary Shares within 1 month from signing the Subscription Agreement. Following a £29.3 million capital raise announced on 16 June 2025, the company confirmed updated director shareholdings. Notable changes include a 7.39% dilution for existing shareholders. The Webley family, who conducted their last stock increase in 2019, saw their shareholding decrease to 12.42% from 13.41%. Other notable shareholders such as Tyler Evans, Andrew Webley & Family, Mario Visconti, and Sean Wade & Family also experienced slight decreases in their shareholdings. The CEO of The Smarter Web Company, Andrew Webley, stated that he is looking forward to working with advisors on evaluating the effectiveness of the Bitcoin strategy. He reiterated the company's commitment to its Bitcoin Treasury Policy, which is a key part of its overall strategy. The Smarter Web Company's decision to increase its Bitcoin holdings and update its shareholding structures comes at a time when the global financial landscape is undergoing significant changes. As the company continues to navigate these changes, it remains committed to its vision of a future where Bitcoin plays a pivotal role in the global financial system.
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