The Bristol-based Smarter Web Company saw its stock surge by 254% this month after acquiring 543.52 BTC, marking its IPO as potentially the most successful in UK history. Shares have skyrocketed from £4.50 to £292.50 since its listing in April, raising over $74.9 million to boost its Bitcoin reserves. The company's CEO, Andrew Webley, claims that this surge in shares has led to over 21 copycat companies announcing similar Bitcoin reserve strategies. The Smarter Web Company aims to increase its Bitcoin reserve to 1,000 BTC within the next three to four months, leveraging funds primarily raised through share sales. Webley highlights Bitcoin’s fixed supply and decentralization as key factors in his belief in its value. He also notes that while Bitcoin's volatility is a concern, it has become more stable recently. Moreover, he warns about the potential risks posed by firms merely claiming to have Bitcoin reserves without actual acquisitions.

Source 🔗