Pantera dey urge Satsuma make e sell $50m Bitcoin and return the capital

Pantera Capital bin beg Satsuma Technology Plc wey dey London market make dem sell about 646 BTC (≈$50m) make dem share the money to shareholders. Dem talk say Pantera get about 7% stake. Satsuma don confirm say investors don dey ask for capital return, and Executive Chairman Ranald McGregor-Smith talk say the board dey look options to protect all shareholders, and dem no rule out anything wey fit protect wider interests. The company never still confirm if dem go unwind their Bitcoin treasury strategy. This one happen as Satsuma market value don drop below the value of the Bitcoin wey dem hold. Satsuma commot Bitcoin reserve plan after dem raise about $220m last August, put themselves for the “Bitcoin treasury” model. Since then, Bitcoin don fall about 40% from record levels, while Satsuma shares don drop more than 99% from their peak. For traders, Pantera make Satsuma sell Bitcoin fit be sign say shareholder pressure fit soon force listed BTC-treasury firms to sell BTC for weak markets. That fit add risk-off sentiment and affect expectations for near-term corporate Bitcoin sell supply, even before any official decision from Satsuma.