The Smarter Web Company has rapidly ascended to become one of Britain's most prized listed entities as its shares surged recently.
Now boasting a £720m market capitalisation, the Aquis-listed enterprise has more than tripled in value over the preceding week, as reported by .
This surge positions it comfortably within the middle tier of the FTSE 250, surpassing seasoned financial institutions like Close Brothers, Jupiter Fund Management, and Paypoint.
In just the past week, Smarter Web Company generated £29.3m through a fresh share issuance, with £1.5m secured via subscription and a substantial £27.8m through an accelerated bookbuild attracting institutional investors at an offer price of 180p.
Since its initial public offering in April, the company has conducted fifth rounds of fundraising, establishing itself as the Aquis exchange's premier entity regarding market value.
Post-fundraising, Smarter Web Company experienced another stock price increase on Monday, leaping from 180p to 292p, followed by an additional 22% uptick in early Tuesday trading, reaching 355p.
This remarkable growth is partly attributed to the company's enthusiastic adoption of cryptocurrencies, amassing significant holdings by accepting Bitcoin as payment and instituting a "Bitcoin Treasury Policy" that aligns with strategies previously implemented by American business giant MicroStrategy.
'Pioneering approach'
Smarter Web Company has stated: "The company believes that Bitcoin forms a core part of the future of the global financial system and as the company explores opportunities through organic growth and corporate acquisitions is pioneering the adoption of a Bitcoin Treasury Policy into its strategy,".
The firm now holds 242.34 Bitcoins, with a market value just shy of £20m, much of which was acquired over the past month.
Andrew Webley, the company's founder and former head of digital at Hargreaves Lansdown, owns a 13.4 per cent stake in the business, valued at £94m.
Webley commented: "By taking a pioneering approach to treasury management using digital assets, including Bitcoin, we believe we offer investors an excellent opportunity,".
"In addition to organic growth, the company will progress an acquisition strategy targeting other businesses with a view to growing its number of clients and / or recurring revenue," the firm added.
