Digital asset investment firm Pantera Capital is urging London-listed Satsuma Technology (SATS) to liquidate its remaining bitcoin. assets and return cash to shareholders, marking a watershed moment for a strategy that once sparked strong investor enthusiasm, Bloomberg reported Thursday.
Pantera’s DAT Opportunity Fund, which owns about 6.7% of the company, is among those pushing for the complete liquidation of Satsuma’s roughly $50 million (646 BTC) bitcoin position, with SATS having lost 99% of its value since peaking at 14 pounds ($18.90) last June.
Satsuma acknowledged receiving requests for capital repayment but did not reveal which investors were involved. Executive Chairman Ranald McGregor-Smith said the company was exploring options to meet these demands while balancing the interests of all shareholders, according to Bloomberg.
In August 2025, Satsuma raised 164 million pounds ($221 million) through an oversubscribed convertible bond backed by major crypto investors including Pantera, ParaFi, Kraken and Digital Currency Group.
Bitcoin then rose above $126,000 before falling 50% to $60,000 in early February, eroding confidence in corporate cash flow strategies heavily tied to digital assets.
The collapse in Satsuma’s stock price left its market value lower than its 646 BTC. Leadership turmoil compounded this decline, with a director leaving in February and CEO Henry Elder leaving 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.
