Digital asset investment firm Pantera Capital is urging London-listed Satsuma Technology (SATS) to liquidate its remaining bitcoins. stakes and return cash to shareholders, marking a strong turning point for a strategy that once attracted strong investor enthusiasm, Bloomberg reported Thursday.
Pantera’s DAT Opportunity Fund, which owns about 6.7% of the company, is among those pushing for a full liquidation of Satsuma’s roughly $50 million bitcoin position (646 BTC), with SATS having lost 99% of its value since peaking at £14 ($18.90) last June.
Satsuma acknowledged receiving requests for capital returns, but did not disclose which investors were involved. Chief Executive Ranald McGregor-Smith said the firm is reviewing options to address these demands while balancing the interests of all shareholders, according to Bloomberg.
In August 2025, Satsuma raised £164 million ($221 million) through an oversubscribed convertible note backed by major cryptocurrency investors including Pantera, ParaFi, Kraken and Digital Currency Group.
Bitcoin then surpassed $126,000 before falling 50% to $60,000 in early February, eroding confidence in corporate treasury strategies heavily tied to digital assets.
Satsuma’s share price collapse has left its market value below that of its 646 BTC. Leadership turmoil has compounded the decline, with one director resigning in February and chief executive Henry Elder resigning in March.
SATS was trading at 21 pence ($0.28) on Thursday, down 12.5% on the day.
Neither Satsuma nor Pantera immediately responded to CoinDesk’s request for comment.
