United Kingdom-listed Bitcoin treasury firm The Smarter Web Company has secured a $30 million Bitcoin-backed credit facility from Coinbase Credit to accelerate Bitcoin purchases following equity raises.
The facility, secured against Bitcoin held in custody with Coinbase, is designed to bridge settlement timing gaps so the company can deploy capital into Bitcoin immediately during volatile market conditions.
Smarter Web said it does not intend to use the facility as long-term debt, instead borrowing temporarily against existing holdings and repaying once fundraising proceeds settle.
The company currently holds 2,689 Bitcoin acquired at an average cost of $112,865 per coin, with holdings now valued at about $170 million, implying an unrealised loss of roughly 44% at current prices near $64,229.
Data from DefiLlama shows digital asset treasury inflows peaked at $4 billion in December and $3.7 billion in January before cooling to $363 million through Feb. 24, indicating a slowdown in corporate crypto allocations.
Smarter Web, listed on the London Stock Exchange’s Main Market and trading on the OTCQB Venture Market in the US, has previously described Bitcoin as central to its treasury strategy and signalled ambitions to expand holdings and potentially join the FTSE 100.
The move comes as corporate Bitcoin strategies diverge, with Strategy recently increasing its holdings to 717,722 BTC while Bitdeer liquidated its entire treasury, underscoring varying approaches to balance-sheet exposure in a volatile market.
At the time of reporting, Bitcoin price was $64,237.21.