Smarter Web Company is strategically eyeing acquisitions of distressed competitors to bolster its Bitcoin holdings at discounted rates, according to a report by the Financial Times. The UK-based firm, which is recognized as the largest corporate holder of Bitcoin with assets exceeding £200 million, is taking these steps despite facing a dramatic decline in its stock price—down 73% from its mid-June peak.
Founder Andrew Webley disclosed to the publication that there is a particularly attractive acquisition target on his radar, although he refrained from revealing any specifics. He implied that the company might consider acquiring other firms primarily for their Bitcoin assets, especially as some crypto treasury firms are trading below the intrinsic value of their Bitcoin reserves.
The company’s ongoing transition from a website design enterprise to a Bitcoin acquisition powerhouse reflects a broader strategic vision, termed “The 10 Year Plan.” Throughout 2025, Smarter Web has taken significant steps to accumulate Bitcoin, crossing the 2,000 BTC mark in July after a notable purchase of 225 coins for £19.9 million, raising its total holdings to 2,470 Bitcoin.
This aggressive accumulation strategy has resulted in an astonishing 49,198% yield on Bitcoin for the year, positioning Smarter Web among the top 25 corporate Bitcoin holders globally, despite its treasury cash dwindling to approximately £500,000. The company’s Bitcoin buying spree has largely been funded through innovative debt instruments, including the UK’s first Bitcoin-denominated convertible bond, amounting to $21 million, which was issued to the Paris-based asset management firm TOBAM in August.
Webley noted the volatility of the market, acknowledging that while the company might have been overvalued at one point, it now appears to be undervalued. He expressed concern for shareholders amidst this tumultuous price landscape. Even with the recent corrections, Smarter Web had previously reached a £1 billion market capitalization and has shown a remarkable 150% increase in stock value year-to-date, outpacing all but one competitor in the FTSE 350 index.
In a move aimed at strengthening its leadership and appeal to institutional investors, Smarter Web recently appointed Albert Soleiman, the former CFO of CMC Markets, as its new chief financial officer. This hiring comes at a pivotal time as the firm sets its sights on expanding its presence and ambitions in the FTSE 100.
The acquisition strategy aligns with a growing trend among UK-listed companies that are beginning to adopt Bitcoin treasury models. At least nine firms have announced similar strategies in recent months, drawing inspiration from industry leader MicroStrategy, which has amassed over 638,460 BTC since it began purchasing the cryptocurrency in 2020.
However, market analysts have voiced skepticism regarding the sustainability of this corporate treasury trend. Eric Benoist, a technology and data specialist at Natixis CIB, remarked that the attractiveness of the narrative around Bitcoin holdings might be waning among mainstream investors, pointing out the lack of a clear endpoint for this strategy.
Despite these concerns, over 325 entities have collectively accumulated 3.71 million Bitcoin, according to BitcoinTreasuries data. Yet industry experts warn that the market may be reaching a saturation point. Michael Novogratz of Galaxy Digital has previously raised the notion that the market for treasury companies could be approaching its peak. Likewise, VanEck’s Matthew Sigel cautioned that companies issuing shares close to their Bitcoin net asset values may unintentionally erode value rather than foster capital growth.
If executed effectively, Smarter Web’s acquisition strategy could herald a new era within the cryptocurrency landscape, presenting opportunities for successful treasury firms to acquire Bitcoin from struggling entities at favorable valuations, mirroring historical trends where investors leveraged depreciating currencies to snag scarce assets during economic downturns.
