Samara Asset Group, a publicly listed asset management firm, saw its shares rise by 15% after announcing an increase in its Bitcoin holdings.
On Oct. 14, the firm announced the appointment of Pareto Securities to manage a senior secured Nordic bond offering to raise €30 million ($32.8 million) for expanding its portfolio and Bitcoin reserves.
The bond listing will be on the Oslo and Frankfurt stock exchanges, with a minimum subscription of €100,000.
With the news, shares of the firm rose to €2.10 as of press time, as per Google Finance data.
CEO Patrick Lowry emphasized the growth strategy, focusing on new fund investments and Bitcoin as the primary treasury reserve asset.
“The proceeds will allow Samara to further expand and solidify its already robust balance sheet as we diversify into new emerging technologies through new fund investments. With Bitcoin as our primary treasury reserve asset, we also enhance our liquidity position with bond proceeds.”
In a social media post, Lowry expressed plans for Samara to hold as much Bitcoin as MicroStrategy.
Samara’s Advisory Committee member Christian Angermayer echoed this sentiment, emphasizing innovation and growth in the technology sector.
“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 reflects the trend of companies adopting Bitcoin as a treasury reserve asset, following in the footsteps of MicroStrategy.
Small-cap firms like Japan-based Metaplanet have also made significant Bitcoin investments, contributing to the increasing institutional exposure to the crypto market.
The introduction of Bitcoin exchange-traded funds (ETFs) has further fueled interest and investment in Bitcoin.
