Pantera Capital is reportedly pushing Satsuma Technology Plc to liquidate its remaining Bitcoin holdings and return the funds to shareholders. This move signals a shift in sentiment toward a strategy that previously had strong investor support.
Pantera’s DAT Opportunity Fund, which owns about 6.7 percent of the company, is among those advocating a full exit from Satsuma’s Bitcoin position, currently valued at around 50 million dollars or roughly 646 BTC.
Investor Pressure Builds as Stock Collapses
According to a report by Bloomberg, the pressure comes after Satsuma’s stock plunged by 98 percent from its peak of 14 pounds last June.
The company acknowledged receiving requests from investors to return capital, although it did not disclose specific names. Executive Chairman Ranald McGregor-Smith said the firm is reviewing its options while trying to balance the interests of all shareholders.
Satsuma previously raised 164 million pounds through an oversubscribed convertible note in August 2025, with backing from major crypto investors including Kraken, Borderless Capital, and Digital Currency Group.
In December, the company sold 579 Bitcoin, nearly half of its holdings at the time, raising about 40 million pounds.
Market Volatility Adds to the Strain
Market conditions have shifted significantly. Bitcoin surged above 126 thousand dollars last October before dropping to around 60 thousand dollars by early February, weakening confidence in corporate treasury strategies heavily tied to Bitcoin.
Satsuma has also faced internal challenges, including leadership changes such as a director departure in February and the resignation of CEO Henry Elder in March.
Growing Concerns Over Bitcoin Treasury Strategies
The situation reflects broader concerns about companies holding large Bitcoin reserves. Investor Michael Burry has warned that further declines in Bitcoin could trigger wider financial stress, particularly for firms with heavy exposure.
He noted that if Bitcoin falls below key technical levels, it could create ripple effects across both crypto and traditional financial markets. A further drop of about 10 percent could leave major holders, including firms like MicroStrategy, facing billions in unrealized losses and potentially restricting their access to capital.
Similarly, Zac Prince has questioned the long term sustainability of Bitcoin treasury models, arguing that they rely on complex financial structures and may struggle to justify their valuations without stronger underlying business performance.
Uncertain Path Ahead for Satsuma
As pressure from investors mounts and market conditions remain unstable, Satsuma now faces a critical decision on whether to exit its Bitcoin position or continue with a strategy that is becoming increasingly difficult to defend.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
