Pantera Capital is urging Satsuma Technology to liquidate its remaining bitcoin holdings and return cash to shareholders after a sharp fall in the company’s share price.
The crypto currency firm, led by Dan Morehead, is among the group of funds pushing for all the wind-down of the bitcoin site of Satsuma, which amounts to about 646 BTC, about $50 million at current prices. Pantera’s DAT Mwayi Fund is about 6% to 7% of the company, according to Bloomberg reports.
The pressure follows a sharp decline in Bitcoin and Satsuma. Shares have fallen more than 99% from the peak in June 2025, when the stock was sold at around 14 pounds. The stock was recently changing hands at around 21 dinars, leaving the company’s market value below the price of bitcoin held.
Satsuma confirmed that it has received requests from shareholders for refunds. Chief executive Ranald McGregor-Smith said the company was reviewing options and balancing the interests of all investors. The company did not name its shareholders in the filing.
This event marks a change in the strategy that gained attention at the last crypto event. In August 2025, Satsuma he was promoted about $164 million, or $221 million, through a convertible note backed by several electronics companies, including Pantera CapitalParaFi Capital, Kraken, and Digital Currency Group. The company has positioned itself as an AI-powered bitcoin value vehicle, connecting with businesses that allocate funds to digital assets.
Bitcoin volatility over the past 6 months
Market conditions have recently changed. Bitcoin to climb It peaked at $126,000 before falling to around $60,000 earlier this year, cutting the value of corporate assets tied to the asset. The decline revealed the dangers of bullish or bullish bitcoin strategies, especially for companies that raised funds near the market’s peak.
Satsuma’s problems go beyond the loss of the market. The company has experienced a change in leadership in recent months. The director exited in February, followed by the departure of CEO Henry Elder in March. The changes increased business concerns about governance and operational processes.
Conflicts between Satsuma and investors have been building since the end of 2024, when the company sold a large part of its bitcoin assets to repay the writers who refused to convert the loan into equity. The move drew criticism from some supporters and led to a change in management.
Now, investors are pushing for a more targeted approach. Author sell the remaining bitcoin and distributions, they try to preserve the value that remains after the collapse of the currency. This proposal will be the end of Satsuma’s bitcoin treasury system less than a year after its launch.
Editor’s Disclaimer: We leverage AI as part of our innovation process, including supporting research, imaging, and quality assurance processes. All content is edited, reviewed, and approved by our editorial team, who are responsible for accuracy and fairness. AI-generated images use only tools trained in the appropriate licensing terms. In Bitcoin, as in the media: Don’t trust. Confirm it.
