UK Bitcoin Treasury Firm Smarter Web Eyes Acquisitions Despite Stock Slump

The Smarter Web Company, the UK’s largest corporate Bitcoin holder, is considering acquiring struggling competitors to expand its digital asset reserves, CEO Andrew Webley said.

Speaking to the Financial Times, Webley confirmed he would «certainly consider» buying rivals’ Bitcoin holdings at a discount. The company, which holds 2,470 BTC worth nearly $275 mln, ranks as the world’s 25th-largest Bitcoin treasury, according to BitcoinTreasuries.NET.

Despite a 22% drop in its share price on Friday, falling from $2.01 to $1.85, Webley said Smarter Web still aspires to join the FTSE 100 index. He also suggested a company rebrand was «inevitable.»

Analysts have cautioned that acquiring bankrupt crypto firms can be riskier than it appears, with asset discounts often reduced once liabilities and taxes are factored in.

Smarter Web’s market decline comes as UK regulators prepare to allow retail investors access to crypto exchange-traded notes (cETNs) from October 8, offering an alternative to investing in corporate Bitcoin treasuries.

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