Shares of Samara Asset Group, a publicly traded asset management firm, surged approximately 15% following the announcement of plans to increase its Bitcoin holdings.
On October 14, the company revealed it had engaged Pareto Securities as the exclusive manager to arrange a series of meetings with fixed-income investors to raise €30 million ($32.8 million) through a senior secured Nordic bond offering.
The bond is set to be listed on the unregulated Oslo and Frankfurt stock exchanges, with a minimum subscription threshold of €100,000. Funds raised from this bond will be allocated to enhancing Samara’s diversified portfolio, which includes acquiring additional interests in alternative investment funds and augmenting its Bitcoin reserves.
As a result of this announcement, the company’s share price climbed 15% to €2.10, according to data from Google Finance.
Patrick Lowry, the CEO of Samara, emphasized the firm’s growth strategy, stating:
“The funds raised will empower Samara to further develop and strengthen its already solid balance sheet as we explore new emerging technologies through additional fund investments. With Bitcoin serving as our primary treasury reserve asset, our liquidity position is also enhanced with the bond proceeds.”
In a post on social media, Lowry shared his ambition for Samara to eventually amass as substantial Bitcoin holdings as MicroStrategy, recognized as the largest corporate holder of BTC globally, with holdings valued around $16 billion.
Christian Angermayer, a member of Samara’s Advisory Committee, echoed this vision, emphasizing the company’s commitment to “propelling humanity forward through innovation” by investing in top-tier managers and builders.
Angermayer remarked:
“With this new capital, we are eager to invest in and collaborate with the innovators of tomorrow’s most transformative technologies and expand our Bitcoin holdings.”
Bitcoin Adoption
Samara’s initiative underscores the increasing trend among companies to adopt Bitcoin as a fundamental treasury reserve asset.
This movement, which began with MicroStrategy in 2020, has gained significant traction this year, with several small-cap companies, including Japan’s Metaplanet, making noteworthy investments in Bitcoin.
Moreover, the establishment of Bitcoin exchange-traded funds (ETFs) has further amplified institutional involvement in the cryptocurrency market, fostering greater interest and investment in Bitcoin.
