Samara to Issue €30 Million Bonds for Bitcoin Acquisition

Public company Samara Asset Group plans to issue bonds worth up to €30 million to purchase Bitcoin. 

The asset management firm has tasked Pareto Securities with organizing meetings with investors to sell senior secured bonds. The proceeds will be used to expand a diversified portfolio by acquiring stakes in investment funds and increasing its Bitcoin holdings, which the firm uses as a primary treasury reserve asset. 

Samara’s CEO, Patrick Lowry, stated that the company has been holding the first cryptocurrency for many years and now intends to increase its coin holdings.

We at @Samara_AG_ have HODL’d for years and are now increasing our #Bitcoin treasury and investing in disruptive tech through top managers and builders

Not sure it’s possible, but it’d be a dream to stack as much as @saylor

— Patrick Lowry (@Patrick_Lowry_) October 14, 2024

“Not sure it’s possible, but it’d be a dream to stack as much as Michael Saylor,” he noted.

In September, MicroStrategy acquired an additional 7,420 BTC, bringing its total holdings to 252,220 coins.

“We are excited about the prospect of placing these bonds and look forward to using the proceeds to acquire more Bitcoin […]”, said Lowry.

On October 14, the company’s stock price rose by 7%.

The bonds will be guaranteed by a special purpose vehicle, Samara Asset Holdings Ltd. The minimum subscription is €100,000.

1,000 BTC by Year-End

Samara currently holds approximately 421 BTC, noted Lowry. He aims to increase the reserves to 1,000 coins by the end of the year. The amount of cryptocurrency purchased depends on the success of the bond sale.

Based in Malta, Samara was founded in 2018 by Galaxy Digital CEO Mike Novogratz, Apeiron Investment Group, and the family office of Christian Angermayer. The firm was previously known as Cryptology Asset Group. 

The company is traded on the German stock exchange Xetra. As of June, its net asset value was estimated at €189 million. It owns shares in Northern Data, DeutscheDigital Assets, and Nextmarkets.

Besides MicroStrategy, Japanese public company Metaplanet is also increasing its Bitcoin reserves.