Digital asset investment firm Pantera Capital urges London-listed Satsuma Technology (SATS) to liquidate its remaining Bitcoin That marks a sharp turning point for a strategy that once attracted strong enthusiasm from investors, Bloomberg reported Thursday.
Pantera’s DAT Opportunities Fund, which owns about 6.7% of the company, was one of the funds that pushed Satsuma to completely unwind its roughly $50 million Bitcoin position (646 BTC), which has lost 99% of its value since peaking at £14 ($18.90) last June.
Satsuma acknowledged receiving requests for capital returns but did not disclose which investors were involved. Executive Chairman Ranald McGregor-Smith said the company was reviewing options to meet those requirements while balancing the interests of all shareholders, Bloomberg reported.
In August 2025, Satsuma raised £164 million ($221 million) through oversubscribed convertible notes backed by major crypto investors including Pantera, ParaFi, Kraken and Digital Money Group.
Bitcoin then surged above $126,000 before falling 50% to $60,000 in early February, eroding confidence in corporate financial strategies closely tied to the digital asset.
Satsuma’s share price plummeted, bringing its market capitalization below its 646 BTC holdings. The decline has been compounded by leadership turmoil, with a director leaving in February and Chief Executive Henry Elder resigning in March.
SATS was trading at 21p ($0.28) on Thursday, down 12.5% ​​on the day.
Neither Satsuma nor Pantera immediately responded to CoinDesk’s request for comment.
