Two separate developments on Tuesday underscored the growing appetite for Bitcoin as a corporate treasury asset, as London-listed SmarterWebCompany disclosed a fresh purchase and Bitcoin Standard Treasury Company (BSTR) outlined an aggressive accumulation strategy.
SmarterWebCompany revealed in a regulatory filing that it had acquired 10 additional Bitcoin, bringing its total holdings to 2,869 BTC. The purchase, while modest, continues the firm’s dollar-cost averaging approach first adopted in 2020. At current market prices, those holdings are valued at roughly $170 million, a significant portion of the company’s market capitalization. The tech company, one of the few publicly traded UK firms with Bitcoin on its balance sheet, has consistently cited the cryptocurrency as a hedge against inflation and currency debasement.
Across the Atlantic, Bitcoin Standard Treasury Company (BSTR) is taking an even more ambitious path. Chief Investment Officer Sean Bill revealed that the firm intends to actively use capital markets to raise funds for Bitcoin purchases, aiming to grow the amount of BTC attributable to each outstanding share. Drawing a comparison to Warren Buffett’s Berkshire Hathaway, Bill described the approach as a “Berkshire Hathaway 2.0 for the Bitcoin standard,” emphasizing a long-term, compounding model rather than short-term trading.
“We are not simply holding Bitcoin as a passive reserve,” Bill said. “We are building a vehicle that can compound per-share Bitcoin holdings over decades.” The strategy relies on maintaining a capital structure that allows debt and equity raises at a cost lower than Bitcoin’s expected appreciation, a delicate balance that introduces heightened volatility risk but also the potential for amplified returns for shareholders.
Both announcements reflect an evolving landscape in corporate treasury management. While North American firms like MicroStrategy have pioneered large-scale Bitcoin accumulation, the SmarterWebCompany and BSTR moves signal that the trend is gaining traction in Europe and among newer, more specialized vehicles. The UK’s Financial Conduct Authority has not blocked such holdings, provided companies adhere to disclosure and risk management standards, offering a relatively clear regulatory path.
For investors, the focus on per-share metrics by BSTR could represent the next evolution beyond simple buy-and-hold treasury allocations. If successful, it may attract capital from those seeking leveraged or actively managed Bitcoin exposure without the complexities of an ETF. However, execution will be key, and both companies’ strategies remain exposed to Bitcoin’s notorious price swings.
As institutional interest continues to mature, these accumulation stories add weight to the narrative of Bitcoin as a legitimate reserve asset for public companies.
