Smarter Web Eyes Competitor Acquisitions for Discounted Bitcoin

Smarter Web Company, the largest UK Bitcoin holder, considers acquiring competitors at a discount to grow its BTC holdings and join the FTSE 100.

This decision highlights a strategic move in the competitive BTC market, with market reactions including a stock decline despite BTC gains.

Smarter Web Pursues Discounted BTC from Competitors

The Smarter Web Company, led by CEO Andrew Webley, aims to acquire Bitcoin from struggling competitors at a discounted rate. This aligns with their public “10 Year Plan” to expand their BTC holdings.

Recently, Smarter Web executed a £2.5M BTC purchase and issued Bitcoin-denominated bonds. These actions reflect their long-term commitment to Bitcoin, positioning it as a core asset in their treasury. Andrew Webley, CEO, Smarter Web Company, remarked, “We would certainly consider buying out competitors to acquire their Bitcoin at a discount.” – CoinCentral

Stock Drops 22% Despite Bitcoin Value Increase

The announcement led to a notable 22% drop in Smarter Web’s stock, despite a 1% increase in BTC value. This highlights a complex market reaction and investor sentiment.

New financial tools like UK cETNs released as alternative crypto exposure influenced market dynamics, reducing reliance on companies like Smarter Web as the sole investment vehicles.

Institutional Buyers Look for Crypto Discounts

Similar acquisitions in past bankruptcies like FTX offered deep discounts on crypto assets. However, these often result in reduced benefits after liabilities and legal encumbrances. Institutional buyers often target such sales for undervalued opportunities.

Analysts, including Alex Obchakevich, note that while discounted acquisitions are promising, practical execution can be complex. Smarter Web’s strategy could influence Bitcoin pricing and market strategies in the longer term.