Summary:
Samara Asset Group shares rose 15% following Bitcoin acquisition announcement.
Company plans to raise €30 million through a Nordic bond offering.
CEO Patrick Lowry aims for Samara to rival MicroStrategy's Bitcoin holdings.
Shift towards Bitcoin as a treasury reserve asset is gaining traction among firms.
Increased institutional exposure driven by Bitcoin ETFs.
Samara Asset Group, a publicly listed asset management firm, has seen its shares rise by approximately 15% after announcing plans to boost its Bitcoin holdings.
On October 14, the company appointed Pareto Securities as the sole manager to organize a series of fixed-income investor meetings aimed at raising €30 million (approximately $32.8 million) through a senior secured Nordic bond offering. The bond will be listed on the unregulated Oslo and Frankfurt stock exchanges, with a minimum subscription amount of €100,000. The proceeds are earmarked for expanding Samara’s diversified portfolio, including acquiring additional stakes in alternative investment funds and enhancing its Bitcoin reserves.
Following this announcement, Samara’s shares surged to €2.10 as of press time, according to Google Finance data.
Patrick Lowry, CEO of Samara, emphasized the firm's growth strategy, stating:
“The proceeds will allow Samara to further expand and solidify its already robust balance sheet as we diversify into new emerging technologies through new fund investments. With Bitcoin as our primary treasury reserve asset, we also enhance our liquidity position with bond proceeds.”
In a social media post, Lowry expressed aspirations for Samara to eventually hold as much Bitcoin as MicroStrategy, the largest corporate BTC holder in the world, which boasts around $16 billion worth of Bitcoin.
Christian Angermayer, a member of Samara’s Advisory Committee, echoed this sentiment, highlighting the company’s mission to “drive humanity forward through innovation” by investing in leading managers and builders. He stated:
“With this new dry powder, we are excited to invest in and partner with the builders of tomorrow’s most disruptive technologies and grow our Bitcoin position.”
Bitcoin Adoption
Samara’s move underscores the growing trend of companies adopting Bitcoin as a treasury reserve asset. This shift, initiated by MicroStrategy in 2020, has gained momentum this year, with several small-cap firms making significant Bitcoin investments. The introduction of Bitcoin exchange-traded funds (ETFs) has also fueled increased institutional exposure to the crypto market, driving further interest and investment in Bitcoin.
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