Smarter Web’s CEO Thinks Bitcoin Is Still Cheap at $250K

The Smarter Web Company (SWC) is about to launch MORE, a new perpetual preferred equity that could fundamentally change how the UK Bitcoin Treasury company raises capital and accumulates Bitcoin.

In this episode of the One Chair Podcast, Andrew Webley, Founder & CEO of The Smarter Web Company, joins us to explain exactly how MORE works, why it will pay weekly dividends, and how it could become a powerful new capital-raising engine alongside SWC.

MORE launches with a 12% variable dividend rate, a £100 par value, a two-year minimum dividend cash buffer, and an initial maximum amplification ratio of 35%. But Andrew says that 35% is only the starting point, and that mathematically, the ratio could go significantly higher.

We go deep into the mechanics behind the strategy.

Why is Smarter Web replacing its Coinbase Bitcoin-backed debt with permanent capital? How will MORE be managed around par? Could the dividend rise as high as 20%? Who is the target investor: retail or institutional? And how much Bitcoin could Smarter Web ultimately accumulate if the MORE flywheel starts working?

Andrew also explains why Bitcoin itself has become the hurdle rate for every acquisition Smarter Web considers, and why finding an operating business capable of outperforming Bitcoin is becoming increasingly difficult.

We discuss:

→ How Andrew Webley discovered Bitcoin and why Michael Saylor changed his thinking

→ Why The Smarter Web Company became a Bitcoin Treasury company

→ Why Smarter Web wants to eliminate its Coinbase-backed debt

→ How MORE perpetual preferred equity works

→ Why MORE pays weekly dividends

→ The 12% initial variable dividend rate and potential 20% ceiling

→ Why Smarter Web is targeting £100 par

→ The two-year dividend cash reserve

→ MORE’s 35% amplification ratio, and why it could eventually go higher

→ Retail vs institutional demand for MORE

→ How preferred equity can drive Bitcoin-per-share growth

→ Why Andrew believes Bitcoin is still incredibly cheap

→ Why Bitcoin has become Smarter Web’s acquisition hurdle rate

→ Smarter Web’s strategy for acquiring profitable businesses

→ Potential acquisitions outside the UK

→ Whether The Smarter Web Company could eventually change its name

→ What comes next for SWC and MORE

If MORE works as intended, Smarter Web will have two very different capital-raising engines: SWC as the growth equity and MORE as the income-focused preferred equity.

Follow our Guest:

- Andrew Webley: https://x.com/asjwebley

- The Smarter Web Company on X: https://x.com/smarterwebuk

- The Smarter Web Company: https://www.smarterwebcompany.co.uk/

00:00 Andrew Webley: Building the UK’s Bitcoin Treasury Company

04:47 Why Smarter Web Used Bitcoin-Backed Coinbase Debt

11:22 Why Smarter Web Is Replacing Debt With MORE

15:27 MORE: The UK’s First Bitcoin Treasury Preferred Stock

19:35 How MORE Targets £100 Par Value

25:47 Who Will Buy MORE? Retail vs Institutional Investors

29:12 Why MORE Has a 35% Amplification Ratio

35:55 Are Institutions Warming Up to Bitcoin Treasuries?40:46 Smarter Web’s Acquisition Strategy: Why Bitcoin Is the Hurdle Rate

43:16 Could Smarter Web Acquire Companies Outside the UK?

45:02 What Types of Companies Could Smarter Web Acquire Next?

47:16 Can Any Acquisition Really Outperform Bitcoin?

48:27 Will The Smarter Web Company Change Its Name?

50:46 Building Through the Bitcoin Treasury Bear Market

52:37 What Comes Next for Smarter Web and MORE?

Big thanks to Little Bubble for allowing us to use his song: "One Chair": https://open.spotify.com/track/0XW7JgR2Nlg7WXGOeVT64h?si=a344b82984f74f81

DISCLAIMER: This is not is financial advice. This podcast is for educational and entertainment purposes only.

Thank you for listening!

Follow us on:

- X: https://x.com/OneChairPod

- Youtube: https://www.youtube.com/@OneChairPod