ChainCatcher report: The Smarter Web Company, a UK-based Bitcoin treasury firm, has conditionally raised £10 million (approximately $13.2 million) through a preferred share offering. Net proceeds of £4 million (approximately $5.3 million) will be used to acquire additional Bitcoin. These preferred shares are expected to begin trading in London on October 14, with an initial annual dividend yield of 12%, paid weekly.
Bitcoin wealth management firm The Smarter Web Company raises £10M, purchases £4M in Bitcoin
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Summary
Bitcoin news emerged as UK-based firm The Smarter Web Company raised £10 million ($13.2 million) through preferred shares. The company will use £4 million ($5.3 million) of the proceeds to purchase additional Bitcoin. The shares will begin trading in London on October 14, offering a 12% annual dividend rate paid weekly. The move follows ongoing Bitcoin analysis indicating strong institutional interest in the asset.
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