Breaking: Bitcoin DAT Smarter Web Company Sells BTC to Repay Convertible Notes

The Smarter Web Company, UK-based digital asset treasury (DAT) company, has sold its BTC holdings to repay its Smarter Convert instrument two weeks ahead of maturity. As a result, BTC price dropped 0.65% further to below $65,400.

The Smarter Web Company Sells BTC Holding

The Smarter Web Company disclosed that it has repaid the Smarter Convert instrument, held by entities related to the TOBAM Group. The Bitcoin DAT has settled the convertible notes almost two weeks ahead of its maturity at the company’s request and TOBAM’s support.

The company has sold 177.89 BTC at an average price of $65,762 to repay $11,698,540 to TOBAM. This has sparked concerns within the crypto community, triggering selling pressure on Bitcoin amid Strategy’s Bitcoin sale jitters.

While the original agreement required deploying at least 98% of the funds into Bitcoin, the company deployed 100%. Thus, Smarter Web Company was required to repay 100% of the acquired Bitcoin.

The repayment has canceled almost 7.7186 million ordinary shares that were set to be issued. Smarter Web Company now holds 2,700 BTC, slipping to 28th position amongst Bitcoin digital asset treasury companies.

CEO Andrew Webley said “It served its purpose well, giving us an innovative alternative to traditional leverage last year.” Webley claimed the company decided to settle it slightly early and simplify capital structure as the conversion price wasn’t met.

“From a Bitcoin treasury analytics perspective, we’ve always treated this instrument more like debt than equity, so the repayment has been the main driver of our current -4.35% Quarterly Gross BTC Yield,” he added.

Today we repaid our Smarter Convert instrument.

It served its purpose well, giving us an innovative alternative to traditional leverage last year. As the conversion price wasn't met, we chose to settle it slightly early and simplify our capital structure.

One point worth… https://t.co/x0z5b8bsXk

— Andrew Webley (@asjwebley) July 23, 2026

Bitcoin and SWC Stock Price Action

Smarter Web Company PLC (SWC) stock pared gains and reduced the daily stock performance from 2.88% to 0.77% after the Bitcoin sale announcement.

SWC stock is trading at $29.78 today, with an intraday low and high of $28.64 and $31, respectively. Trading volume remains significantly lower amid a pause in Strategy’s Bitcoin accumulations. The stock is down 28% YTD.

Meanwhile, Bitcoin price has dropped almost 0.65% in an hour, extending the 24-hour drop to nearly 1.50%. The price plunged to a 24-hour low of $65,327 from $66,358 amid elevated oil prices due to escalating US-Iran war.

The derivatives market showed selling in the last few hours, as per CoinGlass data. At the time of writing, the total BTC futures open interest dropped 2.70% to $48.77 in 24 hours. Also, BTC futures OI was down more than 1.30% in the past four hours.

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