Smarter Web Buys 325 BTC, Unveils ‘P/BYD’ for BTC Stock Value

On July 16, The Smarter Web Company launched a research brief introducing a new valuation metric designed specifically for Bitcoin treasury companies. Dubbed Price-to-Bitcoin-Yield-to-Date (P/BYD), the ratio aims to do for Bitcoin holders what the Price-to-Earnings (P/E) ratio does for traditional equities.

Think of it as the first serious attempt to put numbers around the value of Bitcoin on a corporate balance sheet, tailor-made for the digital asset era. “The P/BYD ratio may provide valuable insights for both the Bitcoin and broader investor community,” the company stated in a post on X.

The company also confirmed the purchase of 325 BTC at an average price of $112,157 per coin, totaling £27.1 million ($36M). That’s a move aligned with its decade-long treasury strategy, the 10-Year Plan. With this latest acquisition, Smarter Web now holds 1,600 BTC with an average cost basis of $106,798. This further cements its status as one of the most Bitcoin-forward public firms.

New Metric: The P/BYD Ratio

Designed to analyze the valuation of Bitcoin treasury companies, the P/BYD ratio mimics the logic of the traditional P/E ratio. “Bitcoin treasury strategy isn’t just about stacking sats, it’s about delivering value to shareholders,” said Jesse Myers. He is a Bitcoin investor collaborating with the company on the KPI framework.

Source: @Tennyson_Secs X post on July 16, 2025

The ratio measures how efficiently a company grows its Bitcoin holdings relative to its outstanding shares. By tracking BTC yield, Smarter Web aims to bring institutional-grade transparency to the crypto-curious investor base. Public companies like MicroStrategy, Tesla, and now Smarter Web are increasingly allocating treasury reserves to Bitcoin. But until now, investors lacked a standardized metric to gauge how well those bets were paying off.

P/BYD fills that void. It compares a company’s share price to the yield generated by its Bitcoin holdings since inception. It offers a snapshot of how effectively Bitcoin contributes to shareholder value. It’s part of Smarter Web’s broader goal: to demystify Bitcoin as a corporate asset. Also, equip institutional investors with tools to evaluate treasury performance in the digital age.

Institutional Bitcoin Needs Institutional Math

As more companies adopt crypto assets, traditional financial KPIs are becoming outdated. SWC’s P/BYD may be the first domino in a wave of Web3-native metrics tailored to this emerging frontier.

From stacking sats to publishing proprietary crypto financial ratios, Smarter Web is positioning itself as a hybrid tech-finance innovator. With tools like P/BYD and a growing Bitcoin war chest, it’s inviting other firms, and their investors, to start thinking more like Bitcoin-native corporates.