diff --git a/Sources/Swiftly/Init.swift b/Sources/Swiftly/Init.swift
index 74924913..e2c6fa9c 100644
--- a/Sources/Swiftly/Init.swift
+++ b/Sources/Swiftly/Init.swift
@@ -37,8 +37,13 @@ internal struct Init: SwiftlyCommand {
 
         var config = try? Config.load()
 
-        if var config, !overwrite && config.version == SwiftlyVersion(major: 0, minor: 4, patch: 0, suffix: "dev") {
-            // This is a simple upgrade from the 0.4.0-dev pre-release
+        if var config, !overwrite &&
+            (
+                config.version == SwiftlyVersion(major: 0, minor: 4, patch: 0, suffix: "dev") ||
+                    config.version == SwiftlyVersion(major: 0, minor: 4, patch: 0)
+            )
+        {
+            // This is a simple upgrade from the 0.4.0-dev pre-release, or 0.4.0 release
 
             // Move our executable over to the correct place
             try Swiftly.currentPlatform.installSwiftlyBin()
diff --git a/Sources/SwiftlyCore/SwiftlyCore.swift b/Sources/SwiftlyCore/SwiftlyCore.swift
index 1988ef3b..94cf8388 100644
--- a/Sources/SwiftlyCore/SwiftlyCore.swift
+++ b/Sources/SwiftlyCore/SwiftlyCore.swift
@@ -1,6 +1,6 @@
 import Foundation
 
-public let version = SwiftlyVersion(major: 0, minor: 4, patch: 0)
+public let version = SwiftlyVersion(major: 1, minor: 0, patch: 0)
 
 /// A separate home directory to use for testing purposes. This overrides swiftly's default
 /// home directory location logic.