Samara Asset Group, a publicly-listed asset management firm, has announced plans to bolster its Bitcoin holdings by leveraging a €30 million ($32.8 million) bond. The company revealed this move on Oct. 14, stating that investment bank Pareto Securities would lead a series of investor meetings to facilitate the bond offering.

The bond proceeds are set to be directed towards expanding Samara's investment portfolio, with a significant portion going to increase its Bitcoin holdings. CEO Patrick Lowry confirmed that Bitcoin has been a core part of Samara’s treasury strategy for years, and the company is aiming to hold 1,000 BTC by the end of 2024.

Currently, Samara holds 421 BTC, but Lowry expressed ambitions of stacking Bitcoin, drawing comparisons to MicroStrategy’s Michael Saylor, whose company holds 244,800 BTC. Lowry emphasized that any unused bond proceeds will be converted into Bitcoin, strengthening Samara’s liquidity position.

Co-founded by crypto enthusiast Mike Novogratz in 2018, Samara is focused on investing in disruptive technologies. Its current portfolio includes notable firms such as Northern Data and Deutsche Digital Assets. As of June, Samara's net asset value was reported to be €189 million ($206 million).

This bold Bitcoin investment strategy mirrors the actions of Novogratz’s other venture, Galaxy Digital, which recently purchased 500 BTC, further signaling the increasing appetite for Bitcoin among institutional players.