Asset Manager Samara Donates $150,000 to Bitcoin Development

On Friday, asset manager Samara Asset Group announced it donated $150,000 to Brink Technologies to facilitate its Bitcoin development project. In a letter to the charitable Bitcoin development community, the asset managers committed the funds to finance their ongoing digital asset research.

Samara is also committed to continuing with this donation for the next three years to support the payment of a developer contributing to the growth of the Bitcoin network. The Malta-based asset manager joins a long list of firms in its field that support Bitcoin and cryptocurrencies, with Blackrock and Apollo setting the trends in digital asset adoption.

Founded in 2018, Samara is a venture capital firm that invests in crypto assets and blockchain companies. Samara has investments in companies such as B1, Northern Data, and Deutsche Digital Assets.

Samara Praises DeFi

Speaking after the announcement, the CEO of Samara, Patrick Lowry, stated that the future of finance is decentralized, and he sees Bitcoin playing a major role in it. According to Lowry, the prospect of supporting Bitcoin developers is exciting for the asset manager, who is poised to take on the role for the next three years.

The Executive Director of Brinks, Mike Schmidt, also expressed his excitement for the donation, stating that Bitcoin development is a “common good” and that enhancing it would improve digital finance.

“Bitcoin development is a common good and relies on organizations like Samara and individuals like Patrick to recognize the importance furthering the security, stability, and advancement of the Bitcoin software that underpins much of the entire industry,” Schmidt stated.

Samara recently acquired Cryptology Assets Group and rebranded it to Samara Alpha Management in its continued venture into the crypto industry. During the event, Lowry took a swipe at FTX, Terra, and 3AC, stating that Cryptology was proud it didn’t participate in “over-leveraged gambling” that most of its counterparts engage in and meet their demise.