Smarter Web Company Loses Strategy Chief Amid Bitcoin Treasury Review

The Smarter Web Company has announced that Jesse Myers will step down as head of strategy on September 1. According to an official notification, Myers had been responsible for purchase execution, internal analytics management, and technical relations with institutional investors since January.

The company's balance sheet recorded reserves of 2,712 BTC, valued at £224.8 million, with a net average purchase price of £82,886 per unit as of August 3. The Smarter Web Company also has an active credit line with Coinbase worth £18.5 million, representing a leverage ratio of 17%.

The board of directors will maintain overall oversight of the treasury policy and strategy, but has not named a replacement for Myers' operational duties. In a tweet, Myers stated that he is sad to leave The Smarter Web Company, citing his pride in helping shape the company's Bitcoin strategy.