Publicly-listed asset management firm Samara Asset Group is aiming to boost its Bitcoin holdings using proceeds from a €30 million ($32.8 million) bond issuance.

Announced on October 14, Samara revealed that investment bank Pareto Securities would be leading fixed investor meetings to discuss the potential multi-million euro bond, which is intended to expand the firm’s investment portfolio.

Samara stated that “an up to €30 million senior secured Nordic bond may follow subject to, inter alia, market conditions.” Proceeds from the bond would be directed toward “additional limited partnership stakes” and investments in Bitcoin, which the firm considers its “primary treasury reserve asset.”

Samara’s CEO, Patrick Lowry, shared that the company has been holding Bitcoin “for years” and now seeks to further increase its Bitcoin treasury while investing in “disruptive tech through top managers and builders.” Lowry expressed his aspiration to accumulate Bitcoin, saying, “Not sure it’s possible, but it’d be a dream to stack as much as Michael Saylor,” referring to the MicroStrategy CEO whose company holds 244,800 BTC.

Currently, Samara has exposure to approximately 421 BTC, but Lowry aims to increase that significantly, with a goal of holding 1,000 BTC by the end of 2024. He noted that the size of Samara’s Bitcoin investment from the bond issuance would depend on the amount raised, stating, “Any assets that we raise that don’t deploy to the funds will be held in Bitcoin as a part of our core treasury management strategy.”

Samara invests not only in Bitcoin but also in funds and managers, as part of its mission to “advance humanity through technology,” Lowry added.

Co-founded in 2018 by Bitcoin advocate Mike Novogratz, Apeiron Investment Group, and Christian Angermayer’s family office, Samara Asset Group was formerly known as Cryptology Asset Group. The firm is based in Malta and listed on Germany’s Xetra electronic stock exchange. As of June, Samara’s net asset value stood at €189 million ($206 million).

Samara’s move to increase its Bitcoin position comes as Novogratz’s other firm, Galaxy Digital, is also expanding its BTC holdings. Data from Arkham Intelligence shows that Galaxy has purchased nearly 500 BTC since October 7, valued at $32.4 million according to CoinGecko.