Key Takeaways
- Samara Asset Group plans to raise $33M for Bitcoin purchases.
- The firm hopes to increase its Bitcoin holdings to 1,000 BTC by year-end.
- Mike Novogratz co-founded Samara Asset Group in 2018.
Publicly-listed Samara Asset Group is preparing to expand its Bitcoin holdings with the proceeds from a 30 million euro ($32.8 million) bond. The company, listed on Germany’s Xetra stock exchange, announced on October 14 that it will raise the funds through a bond managed by Pareto Securities.
The proceeds will primarily be used for investments in Bitcoin and other limited partnership stakes. Samara CEO Patrick Lowry said the firm has been holding Bitcoin for years and views it as a primary treasury reserve asset. Samara currently holds around 421 BTC but hopes to increase its holdings to 1,000 BTC by the end of the year, depending on the bond’s success.
Lowry expressed ambition when she referred to MicroStrategy’s co-founder, whose firm holds over 244,800 BTC,stating:
It’d be a dream to stack as much as Michael Saylor.
Samara’s broader portfolio includes investments in disruptive tech companies and managers.
Samara, co-founded by Bitcoin bull Mike Novogratz in 2018, is also following Galaxy Digital’s lead, as the firm has recently purchased approximately $32.4 million worth of Bitcoin.
