Smarter Web aims to strengthen its position in the market

Smarter Web, an organization from the UK, is seeking to strengthen its position in the market. And to achieve this goal, the management is considering the possibility of purchasing assets of bankrupt cryptocurrency companies using price discounts. According to company representatives, the amount of the planned transaction will be 2470 BTC, which at the current rate is estimated at approximately $275 million.

Smarter Web CEO Andrew Webley stressed that such a step would be part of a large-scale development strategy. The main goal of the organization is to take a place among the leading companies included in the FTSE 100 index. One of the steps towards achieving this goal will be the upcoming rebranding of the company, which the management intends to carry out, carefully considering each stage.

Financial analysts note that acquiring assets of companies that have already gone through bankruptcy proceedings can be profitable. After such processes are completed, the market value of securities decreases by 20-50%, which allows large market participants to gain access to promising assets at a reduced price.

Smarter Web's market performance has been mixed in recent weeks. Bitcoin's strong growth has helped the company's stock price. But the overall market backdrop remains volatile, with the leading cryptocurrency down about 4% in the past month.

The UK financial sector has also faced a number of regulatory developments. The authorities have given retail investors access to exchange-traded products backed by cryptocurrencies. This decision expands the possibilities of capital investment and reduces the dependence of private investors on intermediary companies. According to experts, in such conditions, relatively small Bitcoin treasuries will find it quite difficult.

Source: cryptonews.net