TD Cowen reiterates its buy rating: Smarter Web becomes the only large-scale Bitcoin treasury asset in the UK.

CoinFeed reported on April 27th that, according to The Block, brokerage TD Cowen reiterated its "buy" rating on London Stock Exchange-listed Smarter Web Company, stating that it remains the only large-scale, institutionally accessible Bitcoin treasury company in the UK. The report states that the company recently increased its Bitcoin holdings at approximately £57,000 (about $77,000), lowering its marginal cost basis. It currently holds approximately 2,750 BTC, making it one of the largest Bitcoin holders among listed companies in the UK. Its average Bitcoin purchase price was approximately $111,000; based on the current price of approximately $77,600, this represents a paper loss of approximately $91.1 million, a drop of about 30%.