Shares of Samara Asset Group, a publicly traded asset management company, rose about 15% after it announced steps to increase its Bitcoin holdings.
On October 14, the company announced that it had appointed Pareto Securities as the sole manager to organize a series of meetings for fixed income investors to raise €30 million ($32.8 million) through a senior secured Nordic bond offering.
The bond will be listed on the non-regulated stock exchanges of Oslo and Frankfurt, and the minimum subscription amount will be €100,000. Proceeds from the bond will be used to expand Samara’s diversified portfolio, including acquiring additional stakes in alternative investment funds and increasing Bitcoin reserves.
Following the news, the company’s shares rose 15% to €2.10 at the time of writing, Google Finance said. facts.
Patrick Lowry, CEO of Samara, highlighted the company’s growth strategy and said:
“The proceeds will enable Samara to further expand and strengthen its already robust balance sheet as we diversify into new emerging technologies through new fund investments. With Bitcoin as our main treasury reserve, we are also strengthening our liquidity position with bond proceeds.”
On a social media afterLowry expressed his ambition that Samara would eventually own as much Bitcoin as MicroStrategy, the largest corporate BTC holder in the world, with approximately $16 billion in top crypto.
Christian Angermayer, member of the Samara Advisory Committee, echoed this sentiment. He noted that the company’s mission is to “advance humanity through innovation” by investing in leading executives and builders.
Angermayer added:
“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 highlights the growing trend of companies embracing Bitcoin as a treasury reserve.
This shift, initiated by MicroStrategy in 2020, has accelerated this year, with several small companies, such as Japan-based Metaplanet, making significant Bitcoin investments.
Furthermore, the introduction of Bitcoin Exchange-Traded Funds (ETFs) has led to greater institutional exposure to the crypto market, further increasing interest and investment in Bitcoin.