European alternative asset management company Samara Asset Group has announced plans to expand its Bitcoin treasury through a €30 million ($32.8 million) bond issuance.
CEO Patrick Lowry revealed this in an X post on October 14, 2024.
At publicly-listed @Samara_AG_, we are issuing up to €30 million in Bonds to invest in innovative tech through managers and builders, and to increase our #Bitcoin treasury!
We are forever #HODL‘ers and believe technology best drives humanity forward!https://t.co/50BMOmSv2n
— Patrick Lowry (@Patrick_Lowry_) October 14, 2024
The bond proceeds are also expected to enable Samara to support emerging asset managers and expand its digital asset management platform. The company noted that it prioritizes Bitcoin as a primary treasury reserve asset to enhance liquidity. Lowry has expressed his hope for Samara to eventually accumulate as much Bitcoin as Microstrategy, the leading corporate bitcoin holder in the U.S., which currently possesses over $458 million worth of the cryptocurrency.
Meanwhile, Japanese investment firm Metaplanet, another company that recently made Bitcoin its primary treasury asset in May, recently expanded its holdings to nearly 640 BTC, with a total of 639.5 BTC valued at approximately $40.5 million. This expansion followed the acquisition of 108.78 BTC on October 7, leading to a share price surge of over 11% to 1,047 Japanese yen (about $7).
Notably, following the announcement, Samara Asset Group’s stock price surged by over 6% to €2.04 based on Bloomberg’s data.
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