Key Takeaways
- • Samara Asset Group CEO Patrick Lowry criticized companies that hold Bitcoin solely as a treasury asset, arguing the approach can do shareholders a disservice.
- • Samara uses Bitcoin to meet capital commitments to more than 20 venture funds, converting BTC to cash whenever funds request it, regardless of market price.
- • Lowry rejected the characterization of Bitcoin as "digital gold," arguing it should be viewed as money rather than simply an investment.
- • Lowry's position contrasts with JAN3 CEO Samson Mow, who views Bitcoin treasury firms such as Strategy as undervalued and continues to buy BTC across market conditions.
Summary
Samara Asset Group CEO Patrick Lowry has criticized companies that hold Bitcoin solely as a treasury asset, saying such strategies can do shareholders a disservice. Lowry's comments, as reported by Pluang, draw a distinction between corporate treasury accumulation and the way Samara itself deploys the asset.
According to the report, Samara uses Bitcoin operationally to meet capital commitments for more than 20 venture funds. When those funds request distributions, Samara converts BTC to cash, regardless of prevailing market price. This approach treats Bitcoin as a liquidity tool within the firm's capital management rather than as a passive balance-sheet holding.
Lowry also challenged the widely used framing of Bitcoin as "digital gold." He argued that the asset should be understood as money rather than only as an investment, a distinction that bears on how allocators think about its role in portfolios and balance sheets.
The remarks stand in contrast to those of JAN3 CEO Samson Mow, who has described Bitcoin treasury firms such as Strategy as undervalued and has said they should continue buying BTC across market conditions. The divergence highlights an unresolved debate among crypto-exposed institutions over whether Bitcoin is best held as a strategic reserve or deployed as working capital.
Pluang's market snapshot as of October 29, 2026, 01:22 WIB, showed 35 of 50 major cryptocurrencies rising and 14 falling. EOS gained 8.13% to Rp12.649, BAT fell 5.49% to Rp2.513 with 100% buy orders, and LTC rose 3.40% to Rp1.059.351 with 61% buy orders.
According to the report, Samara uses Bitcoin operationally to meet capital commitments for more than 20 venture funds. When those funds request distributions, Samara converts BTC to cash, regardless of prevailing market price. This approach treats Bitcoin as a liquidity tool within the firm's capital management rather than as a passive balance-sheet holding.
Lowry also challenged the widely used framing of Bitcoin as "digital gold." He argued that the asset should be understood as money rather than only as an investment, a distinction that bears on how allocators think about its role in portfolios and balance sheets.
The remarks stand in contrast to those of JAN3 CEO Samson Mow, who has described Bitcoin treasury firms such as Strategy as undervalued and has said they should continue buying BTC across market conditions. The divergence highlights an unresolved debate among crypto-exposed institutions over whether Bitcoin is best held as a strategic reserve or deployed as working capital.
Pluang's market snapshot as of October 29, 2026, 01:22 WIB, showed 35 of 50 major cryptocurrencies rising and 14 falling. EOS gained 8.13% to Rp12.649, BAT fell 5.49% to Rp2.513 with 100% buy orders, and LTC rose 3.40% to Rp1.059.351 with 61% buy orders.
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