Latest news with #SmarterWebCompany
Daily Mail
25-05-2025
- Business
- Daily Mail
I've bought 39 bitcoin for £3M in a week: British holding company builds its stake as price soars
The Smarter Web Company has doubled its bitcoin holding in the past week, building its stake to almost 60 bitcoin. The web design firm which also operates a digital assets treasury policy to make it a bitcoin holding company, purchased 16.42 bitcoin on 20 May, spending £1,280,000 at $104,202 per coin. On 23 May the company purchased a further 23.09 bitcoin at $107,424 per token, bringing its total holding 58.71 tokens. Boss and founder Andrew Webley wants to make Smarter Web Company into a UK version of US tech firm Micro Strategy, which has shot to prominence for its bitcoin holdings. He explained to This is Money that he is happy to buy bitcoin now, as the short-term price is less important for his strategy than it's long-term potential as 'the best asset in the world'. Stock market listed Smarter Web Company's market cap has rocketed from just under £4million at its IPO in April to almost £100million now. At the time of publishing, bitcoin was trading at $107,000, making the Smarter Web Company's bitcoin holding worth $6.3million, or £4.7 million. Webley, chief executive of the firm, said: 'We have announced that we have acquired a total of 58.71 to date at an average purchase price of $104,398 and as we have been acquiring Bitcoin our average price has crept up. 'As I believe that bitcoin is the very best asset in the world, hence our Treasury policy of holding a large amount of bitcoin on our balance sheet, I am less interested in the short-term price as I am thinking what it could be valued at several years in the future.' Earlier this money, on 14 May, the company also purchased 8.61 bitcoin at $99,871 each for £650,000. Bitcoin soared past $110,000 a coin on Thursday for the first time, reaching a new record high of $111,886.41, its first new high since Trump's inauguration in January. The surge in the cryptocurrency came after the US dollar slipped amid concerns over growing US debt. The Smarter Web Company launched its public offering back in April, with an IPO price of 2.5 pence per share, giving it a market cap of £3.7million. On Friday afternoon, shares in the firm were trading at 56 pence per each, and its market cap of £97.27million is on the cusp of breaching the £100million mark. Since listing, the firm has undertaken further fundraising, most recently raising £6.83million through the issue of 13.9million new shares at 49p each. Webley said: 'It is also worth saying that as we have raised additional capital we have done this at the market price and at higher prices each time so when we compare the dilution of an equity raise against the capital injection it is pretty impressive.'
Daily Mail
04-05-2025
- Business
- Daily Mail
My British bitcoin holding company had its IPO two weeks ago and shares have doubled
'I'd like to be a FTSE 100 company,' Andrew Webley, founder of The Smarter Web Company, told This is Money last month, as the firm launched its retail offering on the Aquis Exchange. Two weeks later it looks like this dream is edging slowly closer to being within his grasp. We spoke to Webley as the Smarter Web Company launched its IPO with a price of 2.5 pence per share, raising £1million through its IPO alone. The Smarter Web Company offers web design and digital marketing services to more than 250 different clients but that's not the driving force behind the IPO and its success. Instead, a major part of its strategy going forward, and undoubtedly the selling point to investors, is the firm's adoption of a digital asset treasury policy centered around bitcoin - making it the UK's answer to US star Microstrategy. As at 2 May, Smarter Web Company shares had almost doubled and were trading at 4.88 pence each, and the firm's market capitalisation has risen from £3.7million to £7.16million. Webley told This is Money: 'We were really pleased that we could do the retail offer, which is a little bit unusual with an IPO for a small company.' While having only commenced trading on the Aquis exchange on 25 April, the Surrey-based web design firm has become the most traded stock on Aquis by volume. The firm's average daily volume since it started trading is 82,861, with 404,415 shares changing hands this week alone and 9,890 on its first day of trading. Webley said: 'It's a bit overwhelming, the response has been brilliant. I've had so many supportive messages, with people saying 'I love what you're doing with your company. 'It's been really nice just to see people in the UK get behind what we believe is a very good story from the UK. I suppose that's the answer to the volume, people see that we're trying our best and we're working hard.' He added: 'Before we decided to be a public company, we've done everything transparently. The prices of our web design packages are on our website. We give people the truth, you know, at all times we're professional with them. 'We don't try and overcomplicate something that doesn't need to be overcomplicated. That's the same approach that we've taken to our investor relations. So we're just trying to be transparent.' The firm this week announced its latest bitcoin purchase worth £244,000, increasing its holdings to 5.74 bitcoin worth £414,000. The company also set out a ten-year plan, indicating that it is looking to grow its client numbers in the short term, as well as its intention to make strategic acquisitions. These sit alongside its other ambition to continue the growth of its digital asset holdings. Webley said: 'We are focused on accelerating short-term growth by scaling our proven core services, while also exploring strategic acquisitions that could unlock compelling value. 'By taking a pioneering approach to treasury management using digital assets, including bitcoin, we believe we offer investors an excellent opportunity.' Webley says the combination of a scalable business as well as the firm's digital asset treasury offers different attractive features for different investors. He said: 'Some people will look at our business and say "I like what you're doing on your organic growth," and others will say, "I like what you're doing with your innovative approach to Treasury management," investors choose the bits of the business that they like, and that's why they invest in it.' Webley added: 'I just want to be very clear about how grateful we are for the support that everyone has shown… if people didn't get behind it, it wouldn't be as exciting as it is. 'With that excitement obviously comes responsibility. We've now got to execute our strategy.'
