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The DAT collapse: Pantera wants Satsuma to dump its bitcoin as shares crash 99%
Pantera Capital is urging London-listed Satsuma Technology to liquidate its remaining bitcoin holdings and return cash to shareholders.
Apr 23, 2026, 10:21 a.m.
What to know:
- Pantera Capital and other investors are urging Satsuma to sell its Bitcoin holdings and return cash after a steep decline in both BTC prices and the company’s share value.
- Shares have plunged 99%, while Satsuma now holds about 646 BTC after selling 579 in December.
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.
