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Pantera Capital urges Bitcoin treasury company Satsuma to sell Bitcoin and return the funds to shareholders.

MeNews
ME News, April 23 (UTC+8), sources revealed that cryptocurrency venture capital fund Pantera Capital Management is urging London-listed company Satsuma Technology Plc to sell its remaining $50 million worth of Bitcoin and return the funds to shareholders. Satsuma confirmed that some shareholders have "requested the return of funds," but did not disclose the names of specific shareholders. In an email statement sent to Bloomberg News, Satsuma Executive Chairman Ranald McGregor-Smith said: "We are exploring various options to meet these demands while protecting the interests of all shareholders." A Pantera spokesperson did not respond to a request for comment. Satsuma announced in August last year that it had raised a $221 million Statement fund through convertible loan notes to implement a Bitcoin treasury strategy. According to data from Bitcointreasuries.net, Satsuma currently ranks 57th among Bitcoin treasury management companies, holding 646 Bitcoins on its balance sheet. Pantera operates a fund specializing in DAT investments, having invested over $300 million in this field as of August 2025. Its investment targets include Tom Lee's Ethereum-focused BitMine and Twenty One Capital, the second-largest Bitcoin holder. According to Pantera's official website, the company holds approximately 7% of Satsuma's shares. In December last year, Satsuma announced it would sell nearly half of its Bitcoin reserves to Statement, but Statement did not commit to converting them into common shares. According to sources, they called on Satsuma to replace management, including the CEO and CFO. Satsuma issued a statement saying that CEO Henry Elder and CFO Andrew Smith have resigned. Earlier this month, the company said it would cut costs and disclosed the purchase of Bitcoin worth £1.4 million. (Source: Foresight News)
BTC1.51%
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