Smarter Web don issue $21M Bitcoin bond through Smarter Convert
Smarter Web Company wey dey trade for UK don release $21 million Bitcoin bond through dia Smarter Convert finance tool. Dis interest-free, Bitcoin-based convertible bond na French asset manager TOBAM buy complete for three funds wey dem dey manage. Investors fit change to shares with 5% more than the reference price; if the share price rise 50% pass the conversion price for long time, dem go force conversion. The 12-month bond get 98% refund guarantee for Bitcoin, and dem go adjust payment according to BTC price when e reach maturity. Dis first Bitcoin bond for UK dey help Smarter Web secure growth money without immediate dilution of shares and e go boost their Bitcoin reserves by about 30% of their cash wey dem hold, now over 2,050 BTC. This issuance fit be the example for future crypto-related company finance.
Bullish
This Bitcoin bond wey dem issue dey show say institutional demand for Bitcoin-based financing dey go up and e still show say companies dey interested to hold BTC for their balance sheets. By launching one convertible Bitcoin bond wey worth $21 million and TOBAM fully subscribe am, Smarter Web secure capital plus add to their BTC reserves, wey go reduce the circulating supply. Traders fit see this one as better sign, as e fit push more demand for Bitcoin bonds and support price to go up for medium to long term. Short term price impact fit small, but the precedent wey dem set fit encourage more people to adopt crypto-aligned funding models, wey go strengthen the bullish feeling.