Satsuma Raise $217M, Boost Bitcoin Treasury wit 1,097 BTC
Satsuma Technology don close one £163.6 million ($217.6 million) oversubscribed convertible note round on July 28, wey get crypto funds (Pantera Capital, ParaFi, Arrington, Blockchain.com, Kraken, DCG) and UK institutions join inside. More than half the money—1,097 BTC (about $125 million)—dem put directly for the Bitcoin treasury. The notes go convert at $0.013 per share when shareholders and regulator approve am. The money go help operations, hire developers, and buy more Bitcoin through dia Singapore arm, after dem raise $135 million in June to build the treasury. Satsuma now get 1,126 BTC at average cost $115,149 (about 0.76% unrealized loss). Dem dey run the Bittensor (TAO) subnet, wey be decentralized AI infrastructure. This milestone show how institutional crypto fundraising, company Bitcoin treasury use, and decentralized AI dey grow together.
Bullish
Dis news dey bullish for BTC. One convertible note round wey oversubscribed reach £163.6 million ($217.6 million)—wey dem allocate 1,097 BTC—show say institution demand dey strong and dem get confidence for Bitcoin treasury strategies. Di direct BTC purchase dey add price support and e show say corporate treasury adoption dey grow. Short term, crypto funds and institutions demand fit drive trading volume and put pressure for price to go up. Long term, Satsuma commitment to hold Bitcoin at average cost wey pass current levels mean say dem go dey buy and hold, reduce circulating supply. Plus, their decentralized AI infrastructure (Bittensor) show say institutional interest in BTC as strategic asset dey continue, wey dey reinforce bullish market sentiment.