UK Firm Smarter Web Closes £10M Share Offering for Bitcoin Treasury Strategy
(3 hours ago) · 1 source · Summarized by CryptoBipto
Smarter Web, a UK-based company pursuing a Bitcoin treasury strategy, has closed a £10 million share offering. The fundraise is intended to support the company's approach of holding Bitcoin as a corporate treasury asset.
WHY IT MATTERS
Some companies have started holding Bitcoin in their corporate treasuries instead of keeping all their reserves in traditional currencies. Think of a corporate treasury like a company's savings account — it is where they keep money and assets they are not immediately spending. By choosing to hold Bitcoin there, a company is making a bet that Bitcoin will serve as a useful store of value over time. Smarter Web raised £10 million by selling shares — essentially small ownership stakes in the company — to fund this strategy. This is notable because it shows that the trend of companies adopting Bitcoin as a reserve asset, which started primarily in the US, is spreading to other countries like the UK.
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