UK Tech Firm Smarter Web Company Expands Bitcoin Treasury to 2,650 BTC Amid Cooling Corporate Crypto Enthusiasm

The Smarter Web Company, a London-based technology firm and the United Kingdom's largest publicly traded company holding Bitcoin on its balance sheet, has announced the purchase of an additional 100 Bitcoin, bringing its total cryptocurrency reserves to 2,650 BTC valued at approximately £219.5 million ($291.9 million).

Latest Bitcoin Acquisition Details

According to a regulatory announcement released early Monday morning, the company invested £9.07 million (approximately $12.1 million) in the latest purchase, acquiring Bitcoin at an average price of £90,764 ($120,480) per coin. This acquisition forms part of what the company calls "The 10 Year Plan," a long-term treasury strategy focused on accumulating Bitcoin as a primary reserve asset.

The purchase brings the company's total Bitcoin investment to £219.57 million, with an average acquisition price of £82,857 ($109,984) per Bitcoin across all holdings. This places Smarter Web Company in 30th position among the world's top 100 public companies holding Bitcoin treasuries, ahead of notable cryptocurrency-focused firms including HIVE Digital and Exodus Movement.

Performance Metrics and Yield Calculations

The company reported what it describes as a "BTC Yield" of 57,718% on a year-to-date basis, alongside a more modest 0.58% quarter-to-date yield. The company defines BTC Yield as a key performance indicator measuring the percentage change in the ratio of total Bitcoin holdings to diluted shares in issue over a given period, designed to assess whether Bitcoin acquisitions are accretive to shareholders.

Muted Market Response Signals Shifting Sentiment

Despite the substantial cryptocurrency purchase, market reaction proved tepid. Smarter Web Company's stock price gained just 0.63% following the announcement, a markedly subdued response compared to earlier rallies that accompanied previous Bitcoin acquisitions. While the modest uptick temporarily halted a recent downward trend, it failed to reverse the stock's broader trajectory.

The company's shares have declined approximately 30% over the past month, falling from a previous peak of £1.59 to trade below £1.00 as of October 13. This represents a dramatic reversal from the stock's June 2025 high of £5.00 per share, when corporate Bitcoin treasury strategies commanded significantly more investor enthusiasm.

Valuation Metrics Reveal Premium Pricing

According to the company's website, Smarter Web Company currently trades at a Net Asset Value of 1.21, meaning investors are paying £1.21 in stock value for every £1 of treasury value held in Bitcoin and cash reserves. This premium suggests the market attributes additional value to the company's operational business beyond its cryptocurrency holdings, though that premium has compressed substantially from earlier in 2025.

The Business Behind the Bitcoin

The Smarter Web Company's core business focuses on web design, web development, and online marketing services. The company's revenue model includes initial client fees, annual hosting charges, and optional monthly marketing fees. Since 2023, the firm has accepted Bitcoin as payment, positioning cryptocurrency adoption as central to its corporate strategy.

Company leadership, under CEO Andrew Webley, views Bitcoin as "a core part of the future of the global financial system" and has integrated Bitcoin treasury accumulation into both organic growth plans and potential corporate acquisition strategies. The company states it will only pursue acquisitions "where the Directors believe the timing and opportunity are appropriate."

The Fading Novelty of Corporate Bitcoin Treasuries

The muted response to Smarter Web Company's latest Bitcoin purchase reflects a broader cooling of enthusiasm for corporate cryptocurrency treasury strategies. What began as a revolutionary approach to corporate finance has become increasingly commonplace throughout 2025.

At the beginning of June 2025, approximately 60 companies among 124 total entities held Bitcoin treasuries, collectively owning 673,897 BTC, representing roughly 3.2% of Bitcoin's total supply. By October 13, that number had expanded dramatically to 346 entities holding 3.91 million BTC worldwide.

This proliferation suggests Bitcoin treasury strategies have transitioned from novel, headline-grabbing moves to relatively routine corporate finance decisions. The multiplication of companies adopting similar strategies appears to have diluted the market's enthusiasm for any single firm's Bitcoin accumulation announcements.

Risk Disclosure and Regulatory Considerations

The company's announcement included extensive risk disclosures, acknowledging guidance from the UK's Financial Conduct Authority (FCA) characterizing Bitcoin investment as high-risk. The company emphasized that investing in Smarter Web Company shares "is not an investment in Bitcoin, either directly or by proxy," though it acknowledged material exposure to cryptocurrency price fluctuations.

Key risks outlined by the company include Bitcoin's high volatility, the largely unregulated nature of cryptocurrency markets, potential liquidity constraints when selling holdings, and concerns around fraud, money laundering, and cybersecurity threats. The company noted it is "neither authorised nor regulated by the FCA" and that cryptocurrencies remain unregulated in the United Kingdom, meaning investors lack protection from the UK's Financial Ombudsman Service or Financial Services Compensation Scheme.

Persistent Accumulation Despite Market Headwinds

The October 13 purchase represents the latest in a series of regular Bitcoin acquisitions throughout September and October. Just six days earlier, on October 7, the company purchased 25 BTC, demonstrating continued commitment to its accumulation strategy despite declining share prices and diminishing market enthusiasm.

This persistence raises questions about the efficacy of Bitcoin treasury strategies as share price catalysts in an increasingly crowded field. Where early corporate Bitcoin adopters enjoyed significant stock price premiums and investor excitement, later entrants like Smarter Web Company appear to face greater skepticism and market indifference.

Looking Ahead: The Evolution of Corporate Crypto Strategies

The trajectory of Smarter Web Company's stock price—from £5.00 in June to below £1.00 by October—offers a case study in how quickly market sentiment can shift around corporate cryptocurrency strategies. While the company continues executing its decade-long Bitcoin accumulation plan, investors appear less willing to reward such purchases with share price appreciation.

As hundreds of companies now hold Bitcoin treasuries, the competitive advantage and novelty factor that once drove investor enthusiasm have diminished considerably. For Smarter Web Company and similar firms, the challenge ahead lies in demonstrating that Bitcoin treasury strategies deliver sustainable value beyond the initial excitement of adoption.

The company's experience suggests that in an environment where corporate Bitcoin holdings have become commonplace, simply announcing additional purchases may no longer suffice to drive share price performance. Instead, companies may need to articulate clearer value propositions around how cryptocurrency holdings integrate with operational performance and long-term business strategy.

The Smarter Web Company trades on the Aquis Stock Exchange under ticker SWC, on the OTCQB under TSWCF, and on the Frankfurt Stock Exchange under 3M8.