Pantera Capital Pushes Satsuma to Liquidate $50M Bitcoin Holdings: Report
Digital assets-focused enterprise fund, Pantera Capital, is pushing London-listed Satsuma Technology Plc to promote its remaining Bitcoin (BTC) holdings and return the proceeds to shareholders, in what seems to be a shift in sentiment round a technique that had beforehand attracted sturdy backing.
Pantera’s DAT Opportunity Fund, which holds about 6.7% of the corporate, is amongst buyers advocating a full exit from Satsuma’s roughly $50 million Bitcoin place, which is round 646 BTC.
Investor Pressure Mounts
According to the newest report by Bloomberg, the stress comes as Satsuma’s inventory has dropped 98% from its peak of £14 final June. The firm confirmed it has acquired requests for capital returns to Bloomberg, although it didn’t title the buyers concerned.
Executive Chairman Ranald McGregor-Smith stated the agency is assessing choices to reply whereas contemplating the pursuits of all shareholders. The firm had earlier raised £164 million via an oversubscribed convertible word in August 2025, backed by main crypto buyers together with Kraken, Pantera Capital, Borderless Capital, and Digital Currency Group.
In December, it bought 579 BTC, which then accounted for practically half of its holdings, to elevate about £40 million. Market situations have additionally undergone an incredible transformation. For occasion, Bitcoin rose above $126,000 final October earlier than falling to $60,000 by early February, amid weakening confidence in Bitcoin-heavy treasury methods. Satsuma, alternatively, went via management modifications, together with a director’s exit in February and CEO Henry Elder’s resignation in March.
The developments at Satsuma come amid repeated warnings from market consultants concerning the draw back dangers of aggressive BTC publicity for corporates.
BTC Treasuries Face Growing Pressure
Earlier this yr, investor Michael Burry warned that BTC’s decline may set off broader losses, and the most important dangers are tied to firms that constructed massive company treasuries across the asset. Burry had then explained that Bitcoin falling beneath essential technical ranges could lead on to cascading stress not solely inside crypto markets but additionally throughout associated monetary sectors.
He additionally stated additional draw back may have severe implications for firms that amassed BTC at increased costs and added that a further 10% drop may depart main holders, together with corporations like Strategy, dealing with billions in unrealized losses and probably limiting their entry to capital markets, rising chapter dangers.
Zac Prince of Galaxy Digital had additionally questioned the sustainability of BTC treasury fashions, saying they rely on complicated monetary buildings and should wrestle to justify valuations with out stronger enterprise operations.
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