Satsuma $218M Convertible Note Bolsters 1,126 BTC Treasury
Satsuma Technology has raised $218 million in an oversubscribed convertible note round led by ParaFi Capital, with participation from Pantera Capital, DCG and Kraken. Investors subscribed in Bitcoin, contributing 1,097 BTC and bringing Satsuma’s Bitcoin treasury to 1,126 BTC. The UK-based startup will deploy proceeds to expand its decentralized AI services, integrate a Bitcoin-native treasury with AI agents and subnet infrastructure, hire developers and enhance liquidity. CEO Henry Elder said the funding validates Satsuma’s thesis and sets a new standard for London-based blockchain firms. The convertible note financing and bolstered Bitcoin treasury underline growing institutional interest in AI-driven crypto projects.
Bullish
By securing an oversubscribed $218 million convertible note and adding 1,126 BTC to its treasury, Satsuma demonstrates strong institutional backing and commitment to accumulating Bitcoin. In the short term, this may lift market sentiment around BTC due to visible demand from sophisticated investors. Over the long term, integrating a Bitcoin-native treasury with decentralized AI services could drive further institutional inflows and adoption, supporting sustained price appreciation for Bitcoin.