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Pantera Capital urges Satsuma to sell $50M in bitcoin and return funds to investors.

Market News
23 Apr 2026
Bitcoin
View Source
Bearish
pluang ai news

Pantera Capital, a key backer of London-listed Satsuma Technology, is pushing the company to sell its remaining $50 million bitcoin holdings and return the proceeds to investors. Satsuma raised $218 million in 2025, with over $125 million paid in bitcoin, but the move comes amid a sharp decline in bitcoin treasury purchases across the sector. This signals waning confidence in the publicly listed bitcoin treasury model outside the U.S., especially as capital costs rise and price gains slow. The shift contrasts with MicroStrategy's continued large bitcoin acquisitions, highlighting challenges for smaller treasury firms.

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