Pantera Capital has urged Satsuma Technology, following a sharp drop in Satsuma’s stock price, to liquidate the remaining bitcoins it holds and to return any capital back to its shareholders.
Dan Morehead is the leader of the crypto investment company, and he’s among investors who are pushing to wind down Satsuma’s Bitcoin position. Satsuma currently holds 646 BTC worth about $50 million. Pantera DAT Opportunity Fund has roughly 6-7% stake in the company. according Bloomberg News.
Pressure is increasing as Satsuma and Bitcoin’s stock prices have both fallen sharply. Stocks are down more than 99% since their high in June 20,25 when they traded at around 14 pounds. Stocks were recently trading at 21 pence. The company’s value is now below that of bitcoins.
Satsuma confirms that the company has received capital return requests from investors. Ranald M. McGregor Smith, the executive chairman of Satsuma Corporation said that the firm is evaluating options to balance the needs and interests of investors. The company did not identify the specific investors behind these requests.
This is a complete reversal of a strategy which gained momentum during the previous crypto rally. In August 2025, Satsuma raised about £164 million, or $221 million, through a convertible note backed by several digital asset firms, including Pantera CapitalParaFi Capital, Kraken, and Digital Currency Group. The company has positioned itself to be an AI-driven Bitcoin Treasury vehicle. It is joining the wave of companies that have allocated their balance sheets towards digital assets.
Bitcoin’s volatility during the last six months
Bitcoin’s market condition changed quickly. Bitcoin climbed The value of the corporate holdings linked to bitcoin was reduced by a significant amount. It rose to over $126,000, then fell to around $60,000 in the first half of the year. The decline exposed risks associated with leveraged and concentrated bitcoin strategies.
Satsuma is facing more than just market losses. Recent months have seen a lot of leadership changes at the company. Henry Elder, the CEO of the company, left in March after a director resigned in February. Investors were concerned about the governance of strategic direction and leadership.
Satsuma’s tensions with investors began to build in late 2024 when it sold large amounts of bitcoins as a way to pay note holders who refused to convert their debt to equity. This move was criticized by some supporters and led to demands for changes in management.
Investors are now pushing for a directer approach. By selling the remaining bitcoin By distributing the proceeds they hope to retain value left after a collapse in equity. Satsuma’s bitcoin Treasury strategy would end less than a full year after the start of it.
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Source: bitcoinmagazine.com
