Peter Schiff Says Strategy’s STRC is a Ponzi Scheme: Here’s Why
Peter Schiff labels Strategy's STRC as a Ponzi scheme in live Space
CryptoPotato1 min read
The DAT collapse: Pantera wants Satsuma to dump its bitcoin as shares crash 99%
TL;DR
Pantera Capital is urging Satsuma Technology to liquidate its remaining bitcoin holdings after the company's shares plummeted 99%. Satsuma is reviewing options to address investor demands for capital returns amid a significant decline in its stock value.
Key points
- Pantera Capital owns about 6.7% of Satsuma Technology
- Satsuma's shares have lost 99% of their value since last June
- The company is reviewing options for capital returns to investors
Mentioned in this story
Pantera CapitalSatsuma Technology
Digital asset investment firm Pantera Capital is urging London-listed Satsuma Technology (SATS) to liquidate its remaining bitcoin BTC$77,395.86 holdings and return cash to shareholders, marking a sharp turning point for a strategy that once drew strong investor enthusiasm, Bloomberg reported on Thursday.
Pantera’s DAT Opportunity Fund, which owns about 6.7% of the company, is among those pushing for a full wind-down of Satsuma’s roughly $50 million bitcoin position (646 BTC) with SATS having lost 99% of its value since peaking at 14 pounds ($18.90) last June.
Satsuma acknowledged receiving requests for capital returns but did not disclose which investors were involved. Executive Chairman Ranald McGregor-Smith said the firm is reviewing options to address these demands while balancing the interests of all shareholders, according to Bloomberg.
In August 2025, Satsuma raised 164 million pounds ($221 million) through an oversubscribed convertible note backed by major crypto investors including Pantera, ParaFi, Kraken, and Digital Currency Group.
Bitcoin then surged past $126,000 before falling 50% to $60,000 by early February, eroding confidence in corporate treasury strategies tied heavily to digital assets.
The collapse in Satsuma's share price has left its market value below that of its 646 BTC holdings. Leadership turmoil has compounded the decline, with a director exiting in February and CEO Henry Elder stepping down in March.
SATS traded at 21 pence ($0.28) on Thursday, a drop of 12.5% on the day.
Neither Satsuma not Pantera immediately responded to CoinDesk's request for comment.
Q&A
Why is Pantera Capital urging Satsuma Technology to sell its bitcoin?
Pantera Capital is pushing for Satsuma to liquidate its bitcoin holdings due to the company's shares crashing 99%, which has prompted calls for returning cash to shareholders.
What has caused Satsuma Technology's stock to lose 99% of its value?
Satsuma Technology's stock has lost 99% of its value since peaking at 14 pounds last June, largely due to declining confidence in corporate treasury strategies tied to digital assets.
How much bitcoin does Satsuma Technology currently hold?
Satsuma Technology currently holds approximately 646 BTC, valued at around $50 million.
