The Smarter Web Company buys additional $30 million in bitcoin as CEO eyes top 20 public treasuries

The Smarter Web Company, a UK web design firm that has transitioned into a bitcoin treasury-focused company, announced on Friday that it has acquired an additional 275 BTC for £21.88 million ($29.75 million) at an average purchase price of £79,563 ($108,182) per bitcoin.

As a result, the Aquis-listed firm now holds a total of 1,275 BTC — bought at an average price of £78,516 ($106,719) per bitcoin for a total cost of £100.1 million ($136.1 million). Bitcoin is currently trading for $117,963, according to The Block's BTC price page , having reached a fresh all-time high of nearly $119,000 earlier on Friday, meaning the firm is up around 10% on its investment on paper. The company also holds £31 million ($41.9 million) in available cash in its treasury.

Interestingly, while bitcoin has made repeated all-time highs over the past couple of days in U.S. dollar terms, priced in pound sterling, BTC's current value of £86,410 remains 3.6% down from its all-time high of approximately £89,633 set in January, amid dollar weakness compared to other fiat currencies this year.

The company had only just announced a prior 226.42 BTC acquisition for approximately $24.4 million four days ago, taking its holdings to the 1,000 BTC milestone . The fast pace of the Smarter Web Company's bitcoin acquisitions compared to many of its peers already ranks it 28th of the now 140 public company holders, per Bitcoin Treasuries data — up from 36th at the beginning of the month. That places it just behind Bitdeer , closing in quickly on the top 25.

Following the news, one community member suggested the firm could make the top 20 public bitcoin treasury companies within a month and top 15 within two weeks. "That is certainly the plan," CEO Andrew Webley replied on X. "I would like to do it slightly quicker than that but let's just try and push forward each day as best we can."

Meanwhile, publicly traded Japanese firm Remixpoint also announced on Friday it had acquired another 116.72 BTC ($13.8 million), bringing its total holdings to 1,168.28 BTC ($137 million) — ranking one place behind The Smarter Web Company on the list.

The Smarter Web Company offers web design, development, and online marketing services, generating revenue from setup fees, annual hosting fees, and optional monthly charges. It has accepted bitcoin payments since 2023 and began integrating a bitcoin treasury policy in April as part of its belief in Bitcoin's role in the future financial system.

The David Bailey and UTXO Management-advised firm's 10-Year Plan focuses on expanding its client base organically and through selective acquisitions of bitcoin to deliver long-term value to shareholders and fund future growth.

A new UK bitcoin treasury company on the block

While U.S. firms, led by Michael Saylor's Strategy , continue to dominate corporate bitcoin acquisitions, the number of BTC treasury companies in the UK is also on the rise.

Tao Alpha (to be renamed Satsuma Technology under the ticker SATS) is one such firm. It plans to allocate up to two-thirds of its reserves to bitcoin, expecting a private offering of £100 million ($137.5 million) to close around Aug. 1, with UTXO Management’s Henry Elder recently appointed non-executive director.

Controversy erupted earlier this week in the investor community of The Smarter Web Company, expressing concern on X over UTXO's support for Satsuma, as a rival UK bitcoin treasury company already listed on the London Stock Exchange, citing "market cannibalism." Critics see UTXO's involvement conflicting with the community's perception of its strategy of backing one bitcoin treasury leader per market.

Nevertheless, The Smarter Web Company currently remains the largest of more than a dozen UK firms that have now adopted or plan to adopt a bitcoin treasury strategy. The second-largest is Phoenix Digital Assets with 247 BTC ($29.1 million), followed by Coinsilium with 74 BTC ($8.7 million), according to Bitcoin Treasuries data. Crypto asset manager CoinShares, based in the British Crown Dependency of Jersey also holds 236 BTC.

SWC stock price soars

The Smarter Web Company was listed on the Aquis Stock Exchange under the ticker SWC through a reverse takeover and began trading on April 25. Aquis is a UK exchange for small and mid-sized growth firms — a low-cost alternative to the LSE but far smaller and less liquid.

The firm's stock subsequently rose nearly 20,000% to £605 following the announcement of its bitcoin treasury strategy, before plunging 70% to a low of £192.66, according to TradingView. SWC has since recovered somewhat and is currently trading up 1.8% on Friday at £384, having gained 15% over the past five days.