Samara Asset Group issues bonds worth €30 million to increase Bitcoin investments.
Samara Asset Group, a publicly traded asset management company in Germany, stated on Monday that it plans to use the proceeds from a €30 million ($32.8 million) bond to increase the size of its Bitcoin holdings.
To strengthen its investment strategy, the company has hired Pareto Securities as the exclusive manager to set up investor meetings for this possible multi-million euro bond.
Samara Asset Group is preparing a bond structure to make investing in Bitcoin more accessible.
The release states that the money raised from the bond would support investments in Bitcoin, which the company describes as its “primary treasury reserve asset,” as well as “additional limited partnership stakes.”
“We are excited by the prospect of placing this Bond and look forward to using the proceeds to acquire more Bitcoin and continue to seed the world’s best-emerging managers,” said Samara CEO Patrick Lowry, underscoring the company’s long-term commitment to holding Bitcoin.
Samara Asset Holdings Ltd., a recently established particular purpose vehicle (SPV), will provide security for the bond that Samara Asset Group PLC plans to issue.
The guarantor of the bond will be this SPV. The bond is anticipated to be sold through a private placement with a €100,000 minimum subscription amount. It will be listed on the unregulated Oslo and Frankfurt Stock Exchanges.
According to Lowry, the revenues from the bond will strengthen the company’s already strong balance sheet by increasing liquidity and diversifying its investment in cutting-edge technology.
As of June, Samara Asset Group, founded in 2018 by well-known investors such as Mike Novogratz, an evangelist for Bitcoin, has a net asset value of €189 million ($20.6 million).
The company declared a net asset worth of €18.9 million ($20.6 million) as of June 2024.
Its broad portfolio consists of holdings in well-known businesses, including Deutsche Digital Assets, a provider of digital asset services, and Northern Data, a significant participant in the bitcoin mining industry.
Industry Background and Related Public Bitcoin Investments
Samara’s most recent investment project fits a larger pattern where institutional investors view Bitcoin as a valuable strategic asset.
For instance, MicroStrategy now has 252,220 BTC. Michael Saylor, the CEO of MicroStrategy, has been outspoken about the advantages of Bitcoin as a long-term investment.
Apart from Samara and MicroStrategy, Novogratz’s co-founded company Galaxy Digital is aggressively accumulating more Bitcoin.
According to data from Arkham Intelligence, Galaxy recently increased the value of its holdings by around 500 Bitcoin to around $32.8 million.
Similarly, Japan’s publicly traded investment and advisory company Metaplanet Inc. revealed last week that it had purchased an additional 108.78 Bitcoin for ¥1 billion ($6.7 million).
With the acquisition, the company now owns 639.5 BTC, worth about ¥5.96 billion (about $40 million).
