UK’s Smarter Web Company joins London Stock Exchange amid $100 million bitcoin loss

The UK-based Smarter Web Company has moved its trading from the Aquis Growth Market to the main board of the London Stock Exchange (LSE), a move intended to increase access to institutional investors. This milestone occurs while the company is dealing with significant losses tied to its aggressive bitcoin treasury strategy, reporting a roughly $100 million loss over the last three months as bitcoin prices fell sharply. CEO Andrew Webley confirmed that despite the drawdown, the firm remains committed to its long-term, multi-year strategy of acquiring and holding bitcoin, stating they buy through both up and down cycles. Smarter Web, which pivoted to a bitcoin treasury firm last year, joins other companies like Strategy that are currently facing pressure and unrealized losses due to the recent cryptocurrency market pullback.

(Source：The Block)