- Samara AG will issue $32 million in bonds and will buy Bitcoin.
- The company will also seek exposure to alternative investment funds.
- Samara AG uses Bitcoin as its primary treasury asset.
Samara AG, a publicly traded German asset management company, has announced plans to buy more Bitcoin (BTC) by issuing €30 million (around $32 million) in Nordic bonds. The company already uses Bitcoin as its main treasury asset.
According to the announcement, up to $32 million in bonds will be issued and the funds will be used to “expand Samara’s diversified investment portfolio” using Bitcoin and “stakes in alternative investment funds.”
The newly created Samara Asset Holdings Ltd. will guarantee the bond, which will be listed on the unregulated markets of the Oslo and Frankfurt Stock Exchanges. The minimum investment amount is €100,000 (about $109,288).
Patrick Lowry, CEO of Samara AG, said the company will use the funds to “acquire more Bitcoin and continue to seed the world’s best emerging managers.” Under Lowry’s leadership, the company has decided to go all-in on Bitcoin and gain exposure to the crypto industry.
Lowry added that the proceeds will help his company “further expand and strengthen its already strong balance sheet,” stating:
“With Bitcoin as our primary treasury reserve asset, we also enhance our liquidity position with bond proceeds.”
Bitcoin Institutional Adoption
Institutional adoption of Bitcoin remains on the rise with various companies buying the world’s largest digital asset in anticipation of higher prices. These institutions include MicroStrategy and Japanese firm Metaplanet.
Read also: Bitcoin Price: Coinbase Premium Signals Potential Upside
Further, hyperinflation-affected Argentina is also looking into adoption of Bitcoin-friendly policies, following the steps of El Salvador, the first nation to adopt BTC as legal tender.
According to the data from CoinMarketCap, Bitcoin is trading at $64,390 at the time of writing and the cryptocurrency is up 2.50% in the past 24 hours. Further, BTC has skyrocketed 7.30% in the last 30 days.
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