Andrew Webley, CEO of newly London-listed The Smarter Web Company, dismissed the "Hotel California" liquidity crisis facing other digital asset treasuries.
Despite the company’s Bitcoin treasury sitting nearly $100 million underwater, Webley rejected the idea of capitulation.
The founder of The Smarter Web Company Plc (SWC) has told Bloomberg that he would rather sell his own arm before selling Bitcoin.
"Hotel California"
According to a recent report by Tokenize Capital, many DATs are now "zombie companies," forcing them to sell assets just to keep the lights on.
If these firms turn into forced sellers, this could shatter conviction in Bitcoin.
That said, Webley claims this "healthy operating business" provides the cash flow needed to service costs without touching the Bitcoin stack
The company, which has acquired roughly £220 million, is the leading corporate Bitcoin holder in the UK.
MSTR's sudden recovery
As reported by U.Today, Bitcoin recently reclaimed the $70,000 level, and it is now on track to record its best daily gain in years.
The shares of Strategy (MSTR), the leading corporate Bitcoin holder, are currently up by more than 23%.
This could finally be the start of the much-awaited recovery for the embattled digital asset companies.
Alex Dovbnya
Dan Burgin
Tomiwabold Olajide
Gamza Khanzadaev