German-Listed Samara AG Issues €30M Bonds to Increase Bitcoin Reserves – Can This Bolster BTC Prices to ATHs?

• Samara Asset Group wants to add more Bitcoins to its portfolio through the sale of a €30 million bond.

• The firm has hired Pareto Securities to hold one-on-one meetings with potential investors for a possible bond offering.

Samara Asset Group, a publicly listed asset management firm, is preparing to significantly increase its Bitcoin holdings. The company intends to allocate the funds received from a €30 million ($32.8 million) bond for investing in cryptocurrency and other assets. In a press statement on October 14, Samara disclosed that Pareto Securities had been appointed to hold investor meetings. 

The meetings are intended to evaluate the prospects of a possible multi-million euro bond that will be senior secured and tap the Nordic market. The funds will be used for buying more limited partnership interests and more BTC, which the firm views as a core treasury asset.

“An up to €30 million bond may follow, depending on market conditions,” Samara stated. The company’s CEO, Patrick Lowry, has stated that the decision supports the firm’s strategic plan to increase the size of its Bitcoin holdings, something that the firm has done for several years now.

Samara Targets Disruptive Technologies 

Samara is not limited to investing only in Bitcoin. The firm seeks to back disruptive technologies by partnering with leading managers and innovators. Lowry also underscored the firm’s long-time focus on Bitcoin, saying that Samara is now ramping up its Bitcoin exposure as part of a broader investment theme centred on new technologies.

Lowry also acknowledged a personal goal: “It’d be a dream to stack as much as Michael Saylor.” This remark refers to Saylor’s company, MicroStrategy, which has accumulated billions in Bitcoin. Saylor recently revealed his goal of transforming MicroStrategy into the largest Bitcoin bank globally. 

Samara’s Bitcoin investment strategy is similar to that of other innovative companies. Thus, by choosing Bitcoin as a primary reserve asset, Samara aims to reap long-term gains from the cryptocurrency. 

Bitcoin Price Surges Past $64,500 

The timing of the news from Samara AG correlates with the increase in Bitcoin prices as the cryptocurrency climbed above $64,500. This has been coupled with a 67% increase in trading volume and an increase in the Bitcoin futures open interest, which all make for a positive market mood. 

These changes have not gone unnoticed by investors and analysts, with many making predictions that prices may rise even further. One such analyst is James Check, an onchain analyst who recently stated in a post on X, “Pray for the bears,” meaning that bearish traders may struggle in the next market conditions.

According to data from CoinGlass, while Bitcoin was climbing, nearly $67 million of short positions have been liquidated in the past four hours. This steep sell-off shows that the bulls are very much in control of Bitcoin as short-sellers scramble to exit their bearish bets. However, Bitcoin is still trading more than 13% lower than its historic peak which it recorded in March of this year.

Despite the recent gains, experts suggest the bulls are not fully in control. Last week, popular trader DonAlt stated that a breakthrough of the $65,000 mark is critical for the bulls.