Why Satsuma’s $218M Bitcoin Bonanza is the Talk of the Town (and the Internet)

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So, Satsuma Technology just pulled off a jaw-dropping $218 million fundraising feat, with a whopping $125 million settled in Bitcoin. Yes, you heard that right-Bitcoin! It’s like they decided to throw a lavish party and invited the entire UK institutional investor crowd, who, until now, were probably too busy sipping tea and discussing the weather to notice that crypto was actually a thing.

  • Satsuma Technology raised $218M, with $125 million settled directly in Bitcoin, marking the UK’s first large-scale institutional BTC subscription. Who knew Bitcoin could be so… posh?
  • Traditional London-based institutions joined crypto-native firms in the oversubscribed round, signaling growing mainstream confidence in Bitcoin as a treasury asset. It’s like watching your grandmother finally embrace TikTok-shocking, yet oddly satisfying.

According to a press release shared with crypto.news on August 6, Satsuma Technology PLC has closed its latest fundraising round with £163.6 million ($217.6 million) in commitments, which is 63% above its original target. I mean, who doesn’t love exceeding expectations? It’s like getting a surprise bonus at work, except this bonus is in Bitcoin and not just a gift card to Starbucks.

The convertible note deal, which closed on July 28, saw participation from both crypto-native heavyweights, including Pantera Capital, DCG, and Kraken, and traditional London-based institutions managing over £300 billion in combined assets. That’s right, folks-these are the same institutions that once scoffed at Bitcoin, now lining up like it’s the latest iPhone release.

Notably, investors allocated 1,097 Bitcoin (BTC), worth roughly $125 million, directly into the raise instead of cash. This marks the first large-scale Bitcoin subscription for a UK-listed company. It’s like they decided cash was too mainstream and opted for the digital equivalent of a rare vintage wine.

“The fact that many chose to subscribe in the first-ever bitcoin subscription in London speaks to their trust in our ability to innovate and execute. We are now fully equipped, deeply motivated, and more convinced than ever that London is the preeminent market from which to execute on our vision and build a global leader that will define this new category,” said Henry K. Elder, CEO of Satsuma Technology. Sounds like someone’s been reading too many motivational quotes!

Satsuma’s corporate Bitcoin playbook

According to the statement, the convertible loan notes will transform into equity at $0.013 per share, pending shareholder and regulatory approval. This effectively gives institutional backers skin in the game beyond just debt exposure. It’s like saying, “Hey, we’re not just here for the free snacks; we want a piece of the action!”

Satsuma’s conviction in its Bitcoin strategy stems from what CEO Henry Elder calls a “paradigm shift in corporate value creation.” The company views Bitcoin not just as a store of value, but as the foundational layer for its AI operations-a hedge against fiat volatility while building decentralized infrastructure. In layman’s terms, they’re betting on Bitcoin like it’s the last horse in a race, and they’ve just placed their life savings on it.

This latest raise builds on momentum from June, when Satsuma secured $135 million to seed its Bitcoin treasury. It’s like they’re collecting Bitcoin the way some people collect stamps-except these stamps could actually buy you a yacht.

Per BitcoinTreasuries.NET, Satsuma now holds 1,126 BTC worth approximately $128.66 million, acquired at an average price of $115,149 per coin. While currently at a marginal unrealized loss, the company’s willingness to maintain its accumulation strategy mirrors the playbook of firms like Strategy, doubling down on Bitcoin as a core reserve asset regardless of short-term price fluctuations. It’s like watching someone hold onto a pair of bell-bottom jeans, convinced they’ll come back in style.

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2025-08-06 18:06