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Highlights
- Samara AG plans to invest €30 million to increase its Bitcoin holdings.
- The firm's CEO Patrick Lowry confirms long-term commitment to holding Bitcoin reserves.
- German firm issues bonds to fund Bitcoin acquisition, solidifying crypto position.
- Samara AG aims to match MicroStrategy's Bitcoin holdings, sparking market optimism.
The leading publicly listed German firm, Samara AG has recently announced its plan to add more Bitcoin to its portfolio. Notably, this move has sparked widespread optimism in the market, especially as BTC price soared past the brief $64,000 mark today. Besides, the firm also revealed its strategy to acquire more of the flagship crypto to match the level of Michael Saylor’s MicroStrategy.
Germany’s Samara AG To Increase Its Bitcoin Holdings
A recent report on Samara AG has caught the eyes of the investors, showing the firm’s plan to increase its Bitcoin treasury. The German firm focuses on solidifying its position as a major player in the crypto space issuing €30 million in bonds to fund its Bitcoin acquisition.
Notably, this bold move makes the firm a favorite for the crypto market enthusiasts, while positioning it among firms that have heavily invested in BTC. Besides, it also mirrors the strategy of Michael Saylor’s MicroStrategy, which has gained notable traction lately.
Meanwhile, in a recent interview, Michael Saylor revealed his plan to make MicroStrategy the largest Bitcoin Bank. Following that, the MSTR stock has also risen significantly, gaining the investors’ attention.
On the other hand, the German’s CEO Patrick Lowry has lauded the latest development of the firm, while affirming the company’s long-term commitment to BTC. He said that it is planning to hold Bitcoin and increase its reserves significantly. Besides, he expressed the firm’s goal to accumulate as much BTC as MicroStrategy. He stated, “It would be a dream to stack as much as Michael Saylor’s firm.”
What’s Next For BTC Price?
Samara AG’s decision to increase its Bitcoin holdings comes amid a time when the crypto market is witnessing renewed confidence. BTC price went up nearly 3% today and crossed the brief $64,500 level, while its trading volume jumped 67% to $27.29 billion. The crypto has touched a high of $64,781.07 in the last 24 hours. Furthermore, Bitcoin Futures Open Interest rose nearly 4% today, CoinGlass data showed.
The recent positive Bitcoin ETF inflow and the growing institutional adoption signal a further rally for the crypto. In addition, a recent analysis hints that the growing interest in MicroStrategy could help more gains in the flagship crypto.
In addition, these positive developments have also sparked discussions about the “Uptober” rally has already started. For context, Bitcoin and other top altcoins tend to showcase a positive performance in October, as well as in the final quarter of the year. Besides, a Bitcoin price prediction hints at a potential rally for the crypto to $92K in November, sparking market optimism.
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