Pantera Capital Pushes Satsuma to Liquidate $50M Bitcoin Holdings: Report

Pantera Capital and different traders strain Satsuma to dump $50M Bitcoin as inventory collapses over 98%.

Digital assets-focused enterprise fund, Pantera Capital, is pushing London-listed Satsuma Know-how Plc to promote its remaining Bitcoin (BTC) holdings and return the proceeds to shareholders, in what seems to be a shift in sentiment round a technique that had beforehand attracted robust backing.

Pantera’s DAT Alternative Fund, which holds about 6.7% of the corporate, is amongst traders advocating a full exit from Satsuma’s roughly $50 million Bitcoin place, which is round 646 BTC.

Investor Stress Mounts

Based on the most recent report by Bloomberg, the strain comes as Satsuma’s inventory has dropped 98% from its peak of £14 final June. The corporate confirmed it has obtained requests for capital returns to Bloomberg, although it didn’t identify the traders concerned.

Govt Chairman Ranald McGregor-Smith mentioned the agency is assessing choices to reply whereas contemplating the pursuits of all shareholders. The corporate had earlier raised £164 million by way of an oversubscribed convertible observe in August 2025, backed by main crypto traders together with Kraken, Pantera Capital, Borderless Capital, and Digital Foreign money Group.

In December, it bought 579 BTC, which then accounted for practically half of its holdings, to lift about £40 million. Market situations have additionally undergone an amazing transformation. As an example, Bitcoin rose above $126,000 final October earlier than falling to $60,000 by early February, amid weakening confidence in Bitcoin-heavy treasury methods. Satsuma, alternatively, went by way of management adjustments, together with a director’s exit in February and CEO Henry Elder’s resignation in March.

The developments at Satsuma come amid repeated warnings from market specialists concerning the draw back dangers of aggressive BTC publicity for corporates.

BTC Treasuries Face Rising Stress

Earlier this yr, investor Michael Burry warned that BTC’s decline might set off broader losses, and the most important dangers are tied to corporations that constructed massive company treasuries across the asset. Burry had then explained that Bitcoin falling under essential technical ranges might result in cascading stress not solely inside crypto markets but additionally throughout associated monetary sectors.

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He additionally mentioned additional draw back might have severe implications for corporations that amassed BTC at larger costs and added that an extra 10% drop might go away main holders, together with corporations like Technique, dealing with billions in unrealized losses and doubtlessly limiting their entry to capital markets, rising chapter dangers.

Zac Prince of Galaxy Digital had additionally questioned the sustainability of BTC treasury fashions, saying they rely upon advanced monetary constructions and should wrestle to justify valuations with out stronger enterprise operations.