Publicly-listed Samara Asset Group to buy Bitcoin using $33M bond

Publicly-listed asset management firm Samara Asset Group is working to increase its Bitcoin holdings with proceeds from a 30 million euro ($32.8 million) bond.

Samara wants to hold 1,000 BTC by year’s end, says CEO

According to Lowry, Samara currently has exposure to “around 421 BTC” and is looking to significantly increase its holdings in 2024.

“I’d like to cross 1,000 BTC by year’s end,” Lowry told Cointelegraph. He noted that the size of Samara’s Bitcoin investment from the bond would depend on the amount raised:

“Depends on how much we raise. Any assets that we raise that don’t deploy to the funds will be held in Bitcoin as a part of our core treasury management strategy.”

Lowry said Samara invests not only in Bitcoin but also funds and managers on its mission to “advance humanity through technology.”

“With Bitcoin as our primary treasury reserve asset, we also enhance our liquidity position with bond proceeds,” he said.

Bitcoin bull Mike Novogratz co-founded Samara AG in 2018

According to Lowry, Samara’s net asset value as of June was 189 million euros, or $206 million. The company’s portfolio includes the mining firm Northern Data, Deutsche Digital Assets, Nextmarkets and others.

Samara’s move to increase its Bitcoin position comes as Novogratz’s crypto investment firm Galaxy Digital also expands its BTC holdings.