Pantera Capital urges BTC-holding Satsuma to sell assets, return capital to shareholders

Crypto hedge fund Pantera Capital is demanding that AI infrastructure company Satsuma Technology sell its Bitcoin holdings and return the capital to shareholders, Bloomberg reported. Satsuma established a $221 million Statement fund last August to pursue a BTC acquisition strategy and currently holds 646 BTC. However, the company is now facing a crisis due to a price decline since the fund's creation. Satsuma's stock has plummeted over 99% from its June 2025 peak, and its market capitalization is now less than the value of its BTC holdings. The outlet noted that market skepticism is growing around the Digital Asset Treasury (DAT) model, which involves companies purchasing cryptocurrencies like BTC.