Smarter Web Plots Aggressive Buyout Strategy amid Market Turmoil
Andrew Webley, CEO of Smarter Web, the U.K.’s biggest Bitcoin (BTC) holder, plans a bold move. He aims to acquire struggling competitors to grow its BTC stash at discounted prices.
The firm faces a tough challenge.Its stock dove 35.5% in one month, badly beating Bitcoin’s 4% dip. This gap reveals investor unease with BTC treasury stocks, separate from the cryptocurrency’s price.
Webley sees prospect in crisis. Struggling firms offer a chance to snap up BTC cheap. It’s a smart play to help Smarter Web recover lost ground.
- smarter Web’s stock tumbled 22% in one day, showing extreme volatility.
- Coinbase warns of fierce rivalry among BTC treasury firms for investor cash.
- Analysts forecast tough times ahead as the market gets crowded.
Standard Chartered analysts posit that easy access to BTC via ETFs threatens the premium on these stocks. They fear a Bitcoin price drop below $90,000 could doom many BTC treasuries.
