Originally published on: October 14, 2024
Samara Asset Group, a publicly-listed asset management firm, is gearing up to bolster its Bitcoin holdings by using the proceeds from a 30 million euro bond. The firm revealed its strategic move on October 14, with investment bank Pareto Securities onboard as the sole manager in orchestrating a series of investor meetings for the potential multi-million euro bond to diversify its investment portfolio.
According to sources, Samara is eyeing a senior secured Nordic bond of up to 30 million euros, contingent upon market conditions. The firm intends to utilize the bond’s funds for acquiring additional limited partnership stakes and investing in Bitcoin, which serves as the company’s primary treasury reserve asset.
CEO Patrick Lowry emphasized that Samara has been holding Bitcoin for quite a while and is now looking to amplify its cryptocurrency treasury while investing in transformative technologies through proficient managers and innovators. Lowry even expressed his aspiration to stack Bitcoin akin to Michael Saylor, who holds a significant BTC amount under his MicroStrategy.
As per Lowry’s projections, Samara currently holds approximately 421 BTC and is gearing up to substantially expand its Bitcoin holdings by 2024, aiming to cross the milestone of 1,000 BTC by the end of this year. The size of the Bitcoin investment from the bond would be contingent upon the total raised amount, as per Lowry.
Samara doesn’t confine its investments to Bitcoin alone but also ventures into funds and managers in its endeavor to propel technological advancements for the betterment of humanity. With Bitcoin as its primary treasury reserve asset, Samara views the bond proceeds as a means to bolster its liquidity position.
Formerly recognized as Cryptology Asset Group, Samara was founded in 2018 by prominent Bitcoin enthusiast Mike Novogratz, Apeiron Investment Group, and Christian Angermayer’s family office. Operating out of Malta, Samara is listed on the German electronic stock exchange Xetra.
As of June, Samara’s net asset value stood at 189 million euros, with a portfolio encompassing entities like Northern Data, Deutsche Digital Assets, Nextmarkets, among others.
Samara’s strategic move to enhance its Bitcoin position aligns with Galaxy Digital, led by Novogratz, which has also been actively expanding its BTC holdings. Recent data from Arkham Intelligence revealed that Galaxy had procured nearly 500 BTC since October 7, valued at $32.4 million as per CoinGecko’s latest data.
Amidst the evolving landscape of cryptocurrency investments, the zeal to enhance Bitcoin holdings is palpable across prominent firms like Samara Asset Group and Galaxy Digital. Stay tuned for more market insights, investment opportunities, and strategic trading updates in our Markets Outlook newsletter. Subscribe now to stay ahead of the curve!
