Shareholders are the owners of a business. That is a simple statement, but I think it is something that is sometimes forgotten when people talk about public companies.
In these weekly updates I often share my views on how Bitcoin treasury companies are evolving, sometimes my thoughts on our operating businesses and occasionally how I see the current Bitcoin market – which, for what it is worth, I think is looking pretty good at the moment, although still incredibly cheap.
But this week I wanted to talk about a different perspective: shareholders.
Our shareholders own Smarter Web. The team works for the shareholders. When we make decisions around capital allocation, strategy, acquisitions, financing or how we grow the business, creating long-term value for shareholders is always at the front of our minds. In my opinion, every decision that we have made has been in the best interests of our shareholders and we will continue to do this.
I also believe shareholders deserve communication. Clearly, as a public company there are rules around what we can say, when we can say it and how information must be disclosed. There will always be things happening behind the scenes that we simply cannot discuss. But within those boundaries, I believe we should communicate as openly and consistently as we can. These weekly updates are part of that thinking and I have plans for how we can increase the level of communication from a level which I am already proud.
Of course, shareholders are not the only stakeholders in a successful business. Our team is critical. Our advisers and partners play important roles. Our clients deserve exceptional service. The businesses we acquire need to be supported and given the opportunity to grow. A great company needs to work well for all those groups.
But ultimately, a public company exists because its shareholders have chosen to provide it with capital and in return they own a piece of that business. We will never forget that, and every decision will continue to be based on that. At Smarter Web, our objective is to build an increasingly valuable company, use and allocate shareholder capital intelligently and create long-term value for the people who own it.
This week we made several regulatory announcements, one of which generated considerable discussion. On this occasion, there are limits to the context we can provide beyond what has been formally disclosed, and there will inevitably be occasions like this again.
However, I do ask shareholders to place trust in my judgement, in the oversight of our Board and in the robust processes that sit behind the decisions we make. That trust should not be given blindly; shareholders should judge us by results. What we have delivered to date and what we will deliver in the future.
Moving onto some specifics from this week.
On Monday we announced an update from the shares sold the previous week via the ATM. We sold around 2% of the weekly volume raising just £76,306 (before expenses). Our approach has always been to use the facility to grow the balance sheet when sensible whilst also allowing the market to function.
On Tuesday we announced that Jesse Myers is leaving the Company. I would like to thank Jesse for the contribution he has made to Smarter Web. We wish him every success for the future.
On Thursday Miller Cole and I held a Smarter Web Livestream. This was a good opportunity for me to give an update on a variety of different things, and before the Livestream we asked people to submit questions so that we could answer some areas that people were interested in. If you have not watched it, I think it was a good one, and you can find this on X or our YouTube page.
On Friday, we launched a new section of our website that I hope will become a useful resource for investors interested in Bitcoin and Bitcoin treasury companies. The new knowledge base serves several purposes: it gives people a place to learn more about Bitcoin and the growing Bitcoin treasury sector, while also helping the industry become more visible through search engines.
Improving the understanding of Bitcoin and Bitcoin treasury companies among UK investors is something I’m passionate about. That’s why Miller, Jon, Alex and I have started building out this knowledge base, with material ranging from the fundamentals for those just getting started through to more detailed articles for readers who want to go deeper. This is only the beginning – we’ll continue adding new content over the coming weeks and months as we build it into a comprehensive resource.
You can find this new section on our website under the Bitcoin treasury drop down.
Alongside this the work has continued on what we are building. I remain as confident as ever in our strategy, the direction we are taking and the long-term opportunity ahead of Smarter Web.
Thank you for your support, enjoy the bank holiday weekend and I look forward to updating you again next week.
CEO of The Smarter Web Company, the largest UK Bitcoin treasury company. With 25 years of profitable Internet experience. A developer with creative passion and marketing skills that work.
LSE: #SWC | OTCQB: $TSWCF | FRA: $3M8
