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On October 14, Malta-based Samara Asset Group made an announcement revealing its intention to increase its Bitcoin (BTC) holdings by issuing a $32.8 million bond.
Samara’s Goal: Achieving 1,000 Bitcoin Milestone
Samara, a publicly-listed asset management firm, appointed Pareto Securities as the sole manager to arrange investor meetings for a potential €30 million or $32.8 million Nordic bond issuance.
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The proceeds from the bond will be used to expand Samara’s investment portfolio by acquiring additional stakes in alternative investment funds and increasing its Bitcoin holdings. CEO Patrick Lowry stated that BTC serves as the firm’s primary treasury reserve asset, with approximately 421 BTC currently in possession. Lowry expressed:
The bond proceeds will help Samara strengthen its balance sheet and venture into new technologies through fund investments. By using Bitcoin as our main treasury asset, we enhance our liquidity position.
Lowry mentioned Samara’s long-term Bitcoin holding strategy and its aim to accumulate more reserves while investing in disruptive technology. He acknowledged the challenge but expressed a desire to match the holdings of Michael Saylor, CEO of MicroStrategy.
As per data from CoinGecko, MicroStrategy leads in publicly traded companies holding BTC for treasury purposes, owning over 252,000 BTC as of October 14.
Saylor has been vocal about Bitcoin price predictions, forecasting a potential value of $13 million per BTC by 2045.
Bitcoin Remains Preferred Over ETH and SOL
Despite advancements in Ethereum (ETH) and Solana (SOL), Bitcoin remains the top choice for companies in treasury management strategies. Regulatory clarity, such as the SEC’s approval of Bitcoin ETFs, solidifies BTC’s position as a reliable digital asset.
While Ethereum ETFs have gained approval, Ethereum has not seen the same level of institutional adoption as Bitcoin.
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Japan’s Metaplanet recently announced the acquisition of an additional $2 million worth of BTC to bolster its Bitcoin reserves.
Image source: Unsplash.com, Chart source: TradingView.com