news4h ago

Pantera Capital'S Dat Opportunity Fund Is Among Investors Pushing London-Listed Satsuma Technology Plc To Liquidate Its $50 Million $Btc Position And Return The Proceeds To Shareholders, According To Bloomberg.

The fund holds a 6.7% stake in the company.

Satsuma (@Satsuma_UK) confirmed it has received capital return requests but declined to identify the investors. Executive Chairman Ranald McGregor-Smith said the company is "assessing options" while weighing the interests of all shareholders. The stock has fallen 98% from its £14 peak last June.

The pressure from Pantera carries a certain irony. The firm was one of the original backers of Satsuma's Bitcoin treasury strategy, participating in a £164 million convertible note raise in August 2025 alongside Kraken, Borderless Capital, and DCG.

Satsuma has already begun unwinding its position. In December, the company sold 579 $BTC for approximately £40 million to raise cash, roughly half its holdings at the time. It currently holds around 646 $BTC worth approximately $50 million.

Leadership instability has compounded the pressure. A director departed in February, followed by the resignation of CEO Henry Elder in March. $BTC, meanwhile, has retreated sharply from a $126,000 high reached in October, falling to around $60,000 in early February before recovering to test $80,000 resistance.

Pantera Capital'S Dat Opportunity Fund Is Among Investors Pushing London-Listed Satsuma Technology Plc To Liquidate Its $50 Million $Btc Position And Return The Proceeds To Shareholders, According To Bloomberg.

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