彼得·希夫（Peter Schiff）的歐洲太平洋資產管理公司已秘密地購買了沒人期望的比特幣債券

彼得·希夫（Peter Schiff）在降低比特幣方面建立了職業生涯。直言不諱的福音傳教士和基金經理在2019年嘲笑“繼續做夢。

Peter Schiff, the outspoken gold evangelist and fund manager, is famously known for his skepticism towards Bitcoin. As recently as December 2023, Schiff was still asserting that Bitcoin was “going to zero…just traveling a long road.”

直言不諱的福音傳教士兼基金經理彼得·希夫（Peter Schiff）以對比特幣的懷疑而聞名。直到2023年12月，席夫仍在斷言比特幣“要零……只是一條長途路。”

However, recent SEC filings reveal that Schiff’s own asset management arm had acquired exposure to a bitcoin-backed bond late last year. This finding is especially ironic considering Schiff’s strong anti-BTC stance and his frequent predictions of bitcoin’s impending doom.

但是，最近的SEC文件顯示，去年年底，Schiff自己的資產管理部門已獲得了由比特幣支持的債券。考慮到Schiff強烈的反BTC立場以及他對比特幣即將到來的厄運的頻繁預測，這一發現尤其具有諷刺意味。

The instrument in question is a bitcoin treasury bond issued by Samara Asset Group p.l.c, a European asset manager (formerly Cryptology Asset Group) whose shares are traded on the Euronext Growth Oslo exchange. Last November, Samara successfully issued what it calls “Europe’s first-ever Bitcoin Bond,” raising €20 million to expand its portfolio and significantly increase its bitcoin treasury holdings.

該工具是由歐洲資產經理（以前是密碼學資產集團）薩馬拉資產集團（Samara Asset Group Plc）發行的比特幣國庫債券，其股票是在EuroNext增長Oslo Exchange上交易的。去年11月，薩馬拉（Samara）成功發布了所謂的“歐洲有史以來的第一個比特幣債券”，籌集了2000萬歐元，以擴大其投資組合併大大增加了比特幣財政部的持股。

The bond (ISIN: NO0013364398) is structured as a 5-year senior secured note maturing in 2029, offering a substantial 10.062% annual coupon. Additionally, the bond includes an innovative incentive: bondholders receive an extra 0.25% premium on principal for every €0.25 increase in Samara’s Net Asset Value (NAV) per share, closely aligning bondholder interests with shareholders.

債券（ISIN：NO0013364398）在2029年成熟為5年的高級擔保票據，提供10.062％的年度優惠券。此外，該債券包括創新的激勵措施：債券持有人每股每股每股淨資產價值（NAV）每股增加0.25歐元的本金額外費用，與股東與債券持有人的利益緊密一致。

Samara’s CEO Patrick Lowry described the issuance enthusiastically, noting it was “the very first time in history a European firm has taken a page out of the ‘Michael Saylor playbook,’ issuing a bond explicitly with the intent to acquire bitcoin.”

薩馬拉（Samara）的首席執行官帕特里克·洛瑞（Patrick Lowry）熱情地描述了發行，並指出：“這是“歐洲公司第一次從“邁克爾·塞勒（Michael Saylor）劇本”中刪除了一頁，並明確發行了債券，目的是以獲取比特幣的意圖。 ”

Indeed, within weeks of the bond issuance, Samara utilized the proceeds to purchase approximately 76 BTC for its treasury and invested in several crypto-focused venture funds.

的確，在發行保證金的幾週內，薩馬拉（Samara）利用收益購買了大約76 btc的財政部，並投資了幾家以加密貨幣為中心的風險投資。

The bond’s backstory reads like pure rocket fuel for institutional Bitcoin enthusiasts. Announced in October 2024 amid rising BTC prices, the Samara Bitcoin Bond was designed to leverage bitcoin as a strategic treasury reserve asset. Samara positioned it as a win-win proposition: investors would enjoy a high yield coupled with additional NAV-based upside, while Samara could allocate capital into Bitcoin and pioneering tech investments.

該債券的背景故事像機構比特幣愛好者一樣讀起來像是純火箭燃料。薩馬拉比特幣債券於2024年10月在20024年10月宣布，旨在利用比特幣作為戰略財政儲備資產。薩馬拉（Samara）將其定位為雙贏的主張：投資者將享有高收益，再加上基於NAV的上漲空間，而Samara可以將資本分配為比特幣和開拓性技術投資。

By early November, the bond had successfully closed its private placement at €20 million (minimum investment ticket: €100k) and is expected to be publicly listed for trading on the Oslo and Frankfurt exchanges within one to two weeks. Notably, this bond is secured by an overcollateralized portfolio comprising a €150 million basket of Samara’s venture investments, locked securely within a guarantor SPV—resulting in an ultra-low loan-to-value ratio of approximately 13.3%.

到11月初，該債券已成功結束了其私人安置，以2000萬歐元（最低投資票：€100K）的價格完成了債券，預計將在一到兩週內公開上市以在奧斯陸和法蘭克福交易所進行交易。值得注意的是，該債券是由一個超大型投資組合保證的，其中包括1.5億歐元的薩馬拉風險投資，並牢固地鎖定在擔保人SPV中，以超低貸款價值比率約為13.3％。

Little did anyone suspect that among these bondholders would be Peter Schiff’s Euro Pacific.

幾乎沒有人懷疑這些債券持有人將是彼得·希夫（Peter Schiff）的歐洲太平洋。

Enter the EuroPac International Bond Fund, a global bond mutual fund managed by Euro Pacific Asset Management — the firm founded and helmed by Peter Schiff. Schiff, as an owning member of the advisor, has long shaped Euro Pacific’s strategy around his macro views (hard money, skepticism of the U.S. dollar, affinity for gold and foreign bonds).

輸入由歐洲太平洋資產管理公司管理的全球債券共同基金Europac國際債券基金，該公司由彼得·希夫（Peter Schiff）創立和主持。作為顧問的所有成員，席夫（Schiff）長期以來一直圍繞著歐元太平洋的宏觀觀點（硬錢，對美元的懷疑，對黃金和外國債券的親和力）的戰略。

The EuroPac International Bond Fund typically holds a mix of sovereign and corporate debt from around the world, aligned with Schiff’s thesis that non-U.S. assets can protect against dollar debasement. It’s the last place one would expect to find anything related to Bitcoin. But that’s exactly what turned up when the fund’s SEC filings were published this year.

Europac International Bond Fund通常將世界各地的主權和公司債務融合在一起，與Schiff的論點保持一致，即非美國資產可以預防美元貶值。這是人們期望找到與比特幣有關的任何地方。但這正是該基金的SEC申請今年出版時出現的。

In the fund’s Form N-PORT P disclosure (a mandatory SEC filing of portfolio holdings) covering late 2024, a curious line item appears: “Samara Asset Group PLC” — identified by the very same ISIN (NO0013364398) of Samara’s Bitcoin bond. The filing shows EuroPac’s bond fund held €800,000 principal value of Samara’s Bitcoin bond, valued at roughly $870,000 USD, as of the reporting date. That position represented about 1.58% of the fund’s net assets.

在涵蓋2024年末的基金N-PORT P披露（強制性SEC歸檔）中，出現了一個奇怪的訂單項目：“ Samara Asset Group plc” - 由Samara比特幣債券的同一ISIN（NO0013344398）確定。該文件顯示，Europac的債券基金持有薩馬拉（Samara）比特幣債券的800,000歐元本金，截至報告日期，價值約為870,000美元。該職位約佔該基金淨資產的1.58％。

In plainer terms, Peter Schiff’s flagship bond fund became a financier of a bitcoin-backed enterprise, even as Schiff himself spent 2024 loudly bashing bitcoin’s rally.

從簡單的角度來看，彼得·席夫（Peter Schiff）的旗艦債券基金（Flagship Bond Fund）成為了一家由比特幣支持的企業的金融家，即使席夫本人花了2024年大聲抨擊比特幣的集會。

To be clear, this holding was likely a small, yield-driven allocation made by the fund’s managers (Schiff’s team includes co-managers Jim Nelson, CFA, and Steve Kleckner, CAIA). From a bond investor’s perspective, Samara’s 10%+ coupon for a 5-year note—secured by a trove of tech investments and bitcoin reserves—may have simply looked like an attractive high-yield opportunity.

需要明確的是，這種持有可能是該基金經理進行的小型，屈服驅動的分配（Schiff的團隊包括CFA的聯合經理Jim Nelson和CAIA的Steve Kleckner）。從債券投資者的角度來看，薩馬拉（Samara）的10％+優惠券為5年的票據（由一系列技術投資和比特幣儲備提供），可能看起來像是一個有吸引力的高產機會。

Factoring in EuroPac’s International Bond Fund mandate to seek income in international markets

歐羅巴克的國際債券基金中考慮在國際市場中尋求收入