Samara Asset Group Sees 15% Surge in Shares Following Bitcoin Investment Announcement
Shares of Samara Asset Group, a publicly listed asset management firm, experienced a 15% increase after revealing plans to boost its Bitcoin holdings.
On October 14, the company announced the appointment of Pareto Securities as the sole manager for a €30 million ($32.8 million) senior secured Nordic bond offering. The bond will be listed on the Oslo and Frankfurt stock exchanges, with a minimum subscription amount of €100,000. The funds raised will be used to expand Samara’s portfolio, acquire stakes in alternative investment funds, and increase its Bitcoin reserves.
Following the announcement, Samara’s shares rose to €2.10 as reported by Google Finance.
CEO Patrick Lowry emphasized the firm’s growth strategy, stating, “The proceeds will allow Samara to further expand and solidify its 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 his goal for Samara to hold a significant amount of Bitcoin, similar to MicroStrategy, the largest corporate BTC holder.
Christian Angermayer, a member of Samara’s Advisory Committee, shared the company’s mission to drive innovation and invest in disruptive technologies, including growing their Bitcoin position.
Bitcoin Adoption Trend
Samara’s move reflects the increasing trend of companies adopting Bitcoin as a treasury reserve asset. This trend, initially led by MicroStrategy in 2020, has gained momentum with more firms making significant Bitcoin investments.
The introduction of Bitcoin exchange-traded funds (ETFs) has further encouraged institutional exposure to the crypto market, driving greater interest and investment in Bitcoin.
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