Smarter Web Readies for aggressive Crypto Expansion
The U.K.’s leading Bitcoin (BTC) holder, Smarter Web, is gearing up to acquire struggling crypto firms. andrew Webley, the CEO, sees this as a chance to bolster BTC reserves at discounted rates.
Webley’s strategic move comes as Smarter Web’s stock dives 35.5% in just one month, contrasting sharply with Bitcoin’s modest 4% slide. Analysts see this as a sign of weakening investor faith in crypto treasuries.
- Coinbase experts warn of intense rivalry for investor money.
- Standard Chartered predicts risks for overvalued Bitcoin-held stocks.
Smarter Web’s aggressive stance echoes Coinbase’s research.David Duong and Colin Basco highlight an impending fierce competition among crypto companies.they foresee only strategically placed businesses surviving.
In June, Geoffrey Kendrick’s team at Standard Chartered flagged the unsustainability of premiums on BTC-related stocks. Kendrick believes access to regulated Bitcoin ETFs will pressure these treasuries further.
Amid these challenges, Webley seeks opportunities to enhance Smarter Web’s position. His plans underscore the evolving dynamics and competition within the crypto sector.
