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BTC Treasury Smarter Web Company looks like to buy competition


The smarter web company, the largest corporate of the United Kingdom Bitcoin, is considering the hiring of fighting competitors to expand its sanctity, CEO Andrew Webley said.

Webley said The financial times that he would “certainly consider” the purchase of competitors to get their bitcoin (Btc) to a discount.

According to In the data of bitcointreasuries.net, the smarter web company is the th -25 largest world and the top of the UK Corporate Bitcoin Treasury. It is currently holding 2,470 BTCs worth about $ 275 million.

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Smarter Web Company’s BTC Holdings (Orange) and BTC Holdings USD Value (Green). Source: bitcointreasuries.net

Smarter Web Company’s CEO also said the company intends to enter FTSE 100 – the top 100 listed UK companies. He also noted that the firm that changes its name is “inevitable” but said he needs to “do it well.”

Alex Obchakevich, the founder of Obchakevich Research, told Cointelegraph that “the purchase of the property of bankruptcy Crypto companies often promises discounts, but the fact is really more difficult than everyone thinks.”

Related: Metaplanet, smarter web add nearly $ 100m to bitcoin to treasures

Obchakevich cited the losses of Crypto Exchange FTX and Crypto Lender Celsius. He explained that while the discounts reached 60%to 70%, “after reducing liquid liabilities to losses, the encumbrances deleted by the court and tax, the net discount dropped by 20-50%.”

“It attracts investors with expertise because the owners are not measured because of their rush.”

Webley’s comments came after a Smarter Web stock fell nearly 22% on Friday, dropping from $ 2.01 to open $ 1.85 at the time of writing. The refusal came across BTC getting more than 1% in the past 24 hours.

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The smarter web company shares the price chart. Source: Finance on Google

Last month, Bitcoin also lost more than 4% of its value, while the price of smarter web companies fell by about 35.5%.

Price correction of the smarter web will also come after the The UK has allowed retail investors to access The records exchanged by the Crypto Exchange (CETN) in early August, with the change that implemented from October 8. It provides an alternative to investing in crypto treasury companies, which has previously been most accessible regulated vehicles for obtaining exposure to digital assets in the UK.

Related: UK’s smarter web company raises $ 21m by bitcoin-denominated bond

The profit from the failure of competitors

Webley’s comments about hiring competitors follow reports that the wealth of Bitcoin, especially new ones and smallerlikely to encounter trouble. Coinbase Head of Research David Duong and researcher Colin Basco recently said Crypto-buying public companies enters a stage of “Player VS Player” That will see companies competing more difficult for investor money.

They said “strategic positioned players have evolved” and supercharge the crypto industry with their capital flow. Also, analysts said This market segment is rapidly becoming overwhelming and many crypto treasury cannot live in the long -term.

Josip Rupena, CEO of Lending Platform Milo and a former Goldman Sachs analyst, told Cointelegraph at the end of last month that Crypto treasury companies reflect the risk of deblateralized debt obligationswhich played an important role in the financial crisis in 2008.

“There is this aspect where people take what a good sound product, a mortgage back to the sun or Bitcoin and other digital genitals today, for example, and they are starting to engineer with them, taking them in a direction in which the investor is unsure about the exposure they get,” he said.

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