Samara Asset Group Eyes $32.8 Million Bond Issuance To Increase Bitcoin Holdings
2024年10月15日 - 2:30PM
NEWSBTC
In an October 14 announcement, Malta-based Samara Asset Group
revealed plans to increase its Bitcoin (BTC) holdings through
proceeds from a $32.8 million bond issuance. Samara Targets 1,000
Bitcoin Milestone Publicly-listed asset management firm Samara
announced it had mandated investment bank Pareto Securities as a
sole manager to schedule a series of fixed-income investor meetings
to potentially issue up to a €30 million or $32.8 million Nordic
bond. Related Reading: MicroStrategy’s Bitcoin Bet Pays Off In
Multiple Ways As Stock Surges 317% Notably, the proceeds from the
bond issuance will be utilized toward expanding Samara’s existing
investment portfolio by acquiring additional limited partnership
stakes in alternative investment funds. Additionally, the funds
raised will help Samara boost its Bitcoin holdings. The firm
confirmed it uses BTC as its “primary treasury reserve asset,” and
currently holds “around 421 BTC,” according to CEO Patrick Lowry.
Commenting on the development, Lowry said: 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.
He added that Samara has been holding BTC “for years” and aims to
increase its reserves while investing in disruptive technology.
Lowry also mentioned that, while it may be challenging, it would
“be a dream to stack as much as Michael Saylor,” CEO of
MicroStrategy. According to data from CoinGecko, MicroStrategy
leads the global list of publicly traded companies purchasing BTC
for their corporate treasury. As of October 14, MicroStrategy holds
more than 252,000 BTC or approximately 1.2% of the total
circulating supply. Saylor has also been quite vocal about sharing
ambitious Bitcoin price targets. In September 2024, the
MicroStrategy CEO predicted that BTC could soar to as high as $13
million by 2045. BTC Remains The Preferred Digital Asset Ahead Of
ETH, SOL Despite the rapid advancements in smart contract
ecosystems like Ethereum (ETH) and Solana (SOL), Bitcoin remains
the dominant choice for companies as part of their treasury
management strategy. Several factors contribute to Bitcoin’s
dominance in institutional adoption. For instance, the US
Securities and Exchange Commission’s (SEC) approval of Bitcoin
exchange-traded funds (ETFs) has further cemented BTC as a reliable
digital asset with regulatory clarity. Although Ethereum ETFs have
also received regulatory approval, the second-largest
cryptocurrency by market cap has not seen the same level of
institutional adoption in corporate balance sheets. Related
Reading: Grayscale Unveils First XRP Trust In The US, ETF Ahead? In
related news, Japan’s Metaplanet has also been working toward
bolstering its Bitcoin reserves. In September 2024, the early-stage
investment firm stated it had bought an additional $2 million worth
of BTC. Bitcoin trades at $65,995 at press time, up 6.1% in the
last 24 hours. Featured image from Unsplash.com, Chart from
TradingView.com
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