Key Points
- Samara Asset Group plans to issue a €30 million bond to expand its Bitcoin reserves and diversify its holdings.
- The bond will be managed by Pareto Securities and listed on Oslo and Frankfurt stock exchanges.
Samara Asset Group is set to release a €30 million ($32.8 million) bond through Pareto Securities. The proceeds will be used to increase its Bitcoin reserves and broaden its portfolio.
Investment in Bitcoin
The investment firm announced its intention to buy more stakes in alternative investment funds and boost its Bitcoin(BTC) holdings on October 14. Pareto Securities has been appointed to oversee the bond issuance. The bond, a senior secured Nordic bond, will be listed on the unregulated stock exchanges in Oslo and Frankfurt, with a minimum subscription requirement of €100,000.
Patrick Lowry, CEO of Samara Asset Group, confirmed that Bitcoin is the company’s primary treasury reserve asset. He expressed his eagerness to use the bond’s proceeds to acquire more Bitcoin. Lowry stated that the funds would enable Samara to expand its balance sheet and diversify into new emerging technologies through new fund investments.
Future Plans
Lowry, in a post, announced that the publicly-traded firm would use the bond’s proceeds to invest in innovative technology and increase its Bitcoin treasury. He hopes that Samara will eventually hold as much Bitcoin as Microstrategy, the largest corporate BTC holder in the U.S, which has over $458 million worth of BTC in its reserves.
Following the announcement, Samara Asset Group’s share price rose by over 6% to €2.04. Christian Angermayer, a member of Samara’s Advisory Committee, stated that the firm aims to advance humanity through innovation by investing in the world’s best managers and builders. In line with their mission, the company plans to increase their Bitcoin holdings. Angermayer expressed excitement about partnering with the builders of tomorrow’s most disruptive technologies and growing their Bitcoin position.