Pantera Capital is pressuring Satsuma Expertise to fully liquidate its Bitcoin (BTC) holdings and return money to shareholders as its inventory value plummets 99%. The data was introduced on April 23, 2026 and marks a brand new shift within the London-listed firm's monetary technique based mostly on digital property, in response to a report by Bloomberg.
deterioration Occurred within the context of a decline within the digital foreign money marketas reported by CriptoNoticias, Bitcoin has fallen practically 50% from its current highs. This modification had a direct affect on corporations with company publicity to this asset, significantly these utilizing it as a main retailer of worth.
In Satsuma’s case, the corporate holds round 646 BTC price round $50 million after promoting 579 BTC in December. however, The market is penalizing that enterprise mannequin. The share value has fallen from £14 in June 2025 to £0.21, a 99% decline that displays not solely the volatility of the underlying asset, but additionally the lack of confidence in company technique associated to Bitcoin.
A key level of decay is that Satsuma's market capitalization has fallen under the worth of its Bitcoin reserves, an indication of maximum discounting that the market usually interprets as a decline within the credibility of its enterprise mannequin. this mismatch There’s rising strain from traders to rethink the corporate's technique.
Amongst them is Pantera Capital's DAT Alternative Fund. Controls roughly 6.7% of the corporate And they’re main calls for a whole liquidation of digital property and the return of capital to shareholders.
The scenario is made worse by inner instability.CEO Henry Elder resigned in March. As well as, Satsuma had beforehand raised £164m by convertible debt backed by sector traders earlier than the market downturn.
Satsuma acknowledged that it had obtained requests for capital returns and stated it was contemplating numerous choices to accommodate shareholders with out compromising the overall curiosity.
This lawsuit opens a brand new debate on company technique based mostly on Bitcoin. In an surroundings of excessive volatility, Direct publicity to property can enlarge losses Slightly than act as a hedge, particularly when mixed with governance tensions and lack of market confidence.
