Pantera Capital Urges Satsuma to Dump All Bitcoin as Shares Collapse 99%
Pantera Capital is pressuring Satsuma Technology to liquidate its 646 BTC holdings and return capital to shareholders after the company's shares collapsed 99% from June 2025 peaks. The bitcoin treasury strategy, which raised £164 million via convertible notes, unraveled as Bitcoin volatility and leadership turmoil eroded investor confidence. The proposal would wind down Satsuma's crypto allocation strategy within a year of launch.
Key takeaways
- 1Satsuma Technology's share price collapsed 99% from June 2025 peak of 14 pounds to 21 pence currently.
- 2Pantera Capital and other investors urge liquidation of Satsuma's 646 BTC holdings valued near $50 million.
- 3Satsuma raised £164 million via convertible notes in August 2025 for bitcoin treasury strategy, now unwinding.
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Why it matters
This signals risks of concentrated corporate bitcoin strategies launched near market peaks and demonstrates investor pressure to exit leveraged positions during crypto volatility. For Indian retail investors, it illustrates how institutional bitcoin treasury strategies can fail, highlighting the importance of diversification and timing risk in crypto allocations.
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