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Pantera Urges London-Listed Satsuma to Sell Remaining $50 Million in Bitcoin

Pantera Urges London-Listed Satsuma to Sell Remaining $50 Million in Bitcoin

According to Bloomberg, Pantera Capital Management urged Satsuma Technologies to sell its remaining $50 million in Bitcoin and return capital, while the company said some shareholders have sought capital returns.

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Fact Check
The claim is well supported by multiple independent reports that converge on the same specifics. CoinDesk's article "The DAT collapse: Pantera wants Satsuma to dump its bitcoin as shares crash 99%" gives the full set of core details: Pantera Capital and other investors are pushing London-listed Satsuma Technology to liquidate about 646 BTC worth roughly $50 million and return the money to shareholders, after the company's share price collapsed 99%. PANews' article "多名Satsuma股东正推动公司出售全部比特币，并将资金返还股东" independently repeats the Bloomberg-attributed facts and explicitly mentions dissatisfaction with the firm's "AI-driven" bitcoin treasury strategy. The Wu Blockchain X post at https://x.com/WuBlockchain/status/2047253872520069413 also aligns with the same Bloomberg-sourced account. Confidence is medium rather than high because the original Bloomberg article URL could not be directly read in this run.
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Summary

Bloomberg reported on April 23 that Pantera Capital Management urged U.K.-listed Satsuma Technologies to sell its remaining $50 million in Bitcoin and return capital to shareholders. Satsuma said some shareholders have sought capital returns. Earlier reporting said investors including Pantera were pressing the London-listed company to sell about 646 Bitcoin worth roughly $50 million amid dissatisfaction with its Bitcoin treasury strategy and a steep share-price decline. Separate prior reporting also said Satsuma had raised £164 million, or about $221 million, through convertible loan notes in August 2025. No available report states that the Bitcoin sale has been completed.

Terms & Concepts
  • Bitcoin: A decentralized digital asset and blockchain-based cryptocurrency that companies and investors can hold directly on their balance sheets.
  • Convertible loan notes: Debt instruments that may convert into equity under preset terms, commonly used by companies to raise capital.