Bitcoin Treasuries.NET said in a post on X that The Smarter Web Company has completed a $282 million capital reduction. The move was described as an important step toward the launch of what it called the UK’s first Bitcoin-backed perpetual preferred stock. According to the post, the planned preferred stock would have dividend-paying capacity of up to $178 million. The update was cited by ChainCatcher in a brief market report. No additional details on timing or issuance terms were disclosed in the provided text.
Bitcoin Treasuries.NET said in a post on X that The Smarter Web Company has completed a $282 million capital reduction.
According to the post, the move is an important step toward issuing what was described as the UK’s first Bitcoin-backed perpetual preferred stock. The preferred stock would have dividend-paying capacity of up to $178 million.
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