Pantera Urges Satsuma to Sell 646 Bitcoin Holdings

London-listed Satsuma Technology Plc faced escalating investor pressure on April 23, 2026, as Pantera Capital, holding about a 7 percent stake, urged the company to sell its remaining 646 Bitcoin holdings, valued at approximately 50 million dollars, and distribute the proceeds directly to shareholders.

The demand from Pantera highlights dissatisfaction with Satsuma's Bitcoin treasury strategy amid a sharp decline in the company's share price and broader cryptocurrency market volatility. Satsuma's stock has fallen more than 99 percent from its June 2025 peak, leaving its market capitalization below the value of its Bitcoin reserves. Bitcoin, which trades around 77,536 dollars, has dropped nearly 40 percent from its recent high above 126,000 dollars, eroding the premiums once associated with corporate cryptocurrency holdings.

Executive Chairman Ranald McGregorSmith acknowledged the requests in a statement, saying the company is "exploring options to facilitate these requests while protecting the interests of all shareholders." Satsuma has not finalized any decision on liquidating the assets but is assessing ways to address the demands without harming broader investor interests....