Coinspeaker Germany’s Samara AG to Invest €30M in Bitcoin Following MicroStrategy’s Lead
Germany’s biggest publicly-listed firm Samara AG is hopping on the Bitcoin train. This follows after it revealed its plans to increase the amount of Bitcoin in its investment portfolio.
The announcement may have immediately sparked excitement within the global crypto market. More so, given that Bitcoin’s BTC $64 866 24h volatility: 3.7% Market cap: $1.28 T Vol. 24h: $30.38 B price quickly saw some gains earlier today that saw it climb above the $64,000 mark.
Samara AG to Emulate MicroStrategy with Bitcoin Acquisition
Samara AG may have announced its plans to increase its Bitcoin holdings. However, there is more to the plan than just a one-off purchase.
According to the German firm, it is seeking to mirror the Bitcoin acquisitions of Michael Saylor’s MicroStrategy as part of efforts to increase its Bitcoin treasury.
Speaking about the latest update, Samara AG CEO Patrick Lowry has expressed his delight in the move. He seized the opportunity to reiterate the company’s commitment to BTC for the long term while also revealing further plans to continue amassing Bitcoin in the future. Sharing what might be an ambitious goal, Lowry said in a part statement:
“It would be a dream to stack as much as Michael Saylor’s firm.”
To achieve its aim and cement its position as a leader in the crypto space, Samara says it will issue €30 million in bonds to fund its Bitcoin acquisition plans. This move is expected to, at least, bring Samara up in the discussion of firms that have heavily invested in BTC.
So, while MicroStrategy remains the indisputable largest corporate holder of Bitcoin, Japan-based Metaplanet is holding the Fort in Asia, and now Samara may be coming in pacily behind.
Expectations for BTC Price
Notably, Samara AG’s decision to increase its Bitcoin holdings is coming at a time when the crypto market is witnessing a new surge. The surge, which signals a new level of confidence among traders and investors, saw the BTC price go up over 3% today in the past 24 hours. However, as of publication, BTC has retraced some of its steps and was seen trading at $64,420, up 2.62% in the past day.
Despite the current situation, the market is filled with optimism. There is the fact that the flagship crypto has hit a high of $64,781.07 in the past day. That is not to mention that Bitcoin Futures Open Interest also rose nearly 4% today, per CoinGlass data.
Other indicators and historical patterns of ‘Uptober’ also signify that a further rally is very likely going to play out soon. That is considering the big money flowing into Bitcoin exchange-traded funds (ETFs) as well as growing interest from top firms like MicroStrategy and its likes who continue to stack up on BTC, driving its surge.
next
Germany’s Samara AG to Invest €30M in Bitcoin Following MicroStrategy’s Lead
