The Smarter Web Company (SWC): The £604 Million Valuation Is a Joke
Source: Bitcoin Magazine
The music's about to stop for smarter web investors
Another bull market. Another speculative mania. As investors, we’ve seen it time and again:
Asset prices soar.
Optimism smothers caution.
Risk aversion disappears.
And the crowd starts chasing stories, not value.
Smarter Web Company Plc is the latest poster child for this cycle’s madness.
Let’s be honest—Smarter Web isn’t rallying because of its web design business.
It’s rallying because it holds 1,600 BTC, With Bitcoin hovering around £87,81, now valued at around £140.5 million in digital assets.
But here’s the problem:
The company’s market cap is £604 million.
That’s 4.3x its asset base, or a 330% premium over what it actually owns.
Smarter Web sells you a £1 worth of Bitcoin for £4.3. And people are buying it.
Even bullish commentators acknowledge the valuation is “several-times NAV.” That’s a polite way of saying: this is irrational.
What’s Driving This? Four letters: FOMO.
Investors aren’t buying fundamentals. They’re buying dreams:
That Bitcoin will keep rising.
That someone else will pay more.
That missing out is worse than overpaying.
But as someone who’s written about markets for over two decades, I’ve learned this hard truth:
Speculation can make you rich—but it’s far more likely to make you reckless.
The Dangers of Short Financial Memory, Howard Marks once said:
“There can be few fields of human endeavor in which history counts for so little as in the world of finance.”
Most investors forget.
They forget the dot-com collapse.
They forget the housing crash.
They forget how quickly euphoria turns into regret.
Today’s crowd doesn’t remember yesterday’s lessons—and they’re being lured by the same forces:
Easy money
Greed disguised as optimism
The illusion of safety in numbers
The fantasy that this time is different
Let’s be clear: Owning Bitcoin doesn’t make Smarter Web a good business. It makes it a proxy.
And proxies work—until they don’t.
This isn’t MicroStrategy 2020. That trade’s over. Michael Saylor did it early. Everyone else is late. And as the saying goes:
“What the wise man does in the beginning, the fool does in the end.”
Before you buy this stock, ask yourself:
Would I still buy it if it didn’t own Bitcoin?
What’s the real value of its core business?
Am I buying a business… or just a volatile digital asset with a wrapper?
If the answers make you uncomfortable—walk away.
As Buffett said:
“The less diligence others do, the more we must do.”
A Smarter Web isn’t an investment. It’s a speculation dressed as innovation.
And when the music stops, the last buyer pays the price.
Don’t let it be you
