While Bitcoin purchases by corporate companies have increased in recent years, the latest news came from Germany.
Accordingly, Germany's leading public company, Samara AG, recently announced its plan to purchase more Bitcoin.
Samara AG will issue €30 million ($32.8 million) worth of bonds to buy Bitcoin.
“Samara Asset Group has today appointed Pareto Securities as Sole Manager to facilitate a series of fixed income investor meetings.
Up to €30 million in senior secured Nordic bonds will be issued. The proceeds from the bonds are intended to expand Samara’s diversified investment portfolio and increase Samara’s Bitcoin holdings, which it uses as its primary treasury reserve asset.”
Samara CEO Patrik Lowry emphasized the importance of the bond, saying, “We are excited to announce the latest bond issuance and look forward to using the proceeds to acquire more Bitcoin and continue to support the world’s best emerging managers. The proceeds will allow Samara to further expand and strengthen its already robust balance sheet as we diversify into emerging technologies through new fund investments. Bitcoin will remain our primary treasury reserve asset, and we will also strengthen our position by purchasing more BTC with the bond proceeds.”
Following the news, Samara Asset Group's share price rose more than 6 percent to 2.04 euros on Monday.
*This is not investment advice.