📰 UK-listed company Satsuma Technology has sold all of the 669.4867 BTC it held, with the transactions completed between July 24 and 31. The net average execution price was £47,667 per coin, for total proceeds of approximately £31.91 million.
🔥 More importantly, this isn’t a routine treasury reallocation. In July, Satsuma’s shareholders approved the liquidation of the BTC treasury and the company’s delisting. Now, the UK High Court has also approved the subsequent capital reduction plan.
💰 Under the plan, the company will refund approximately £30.718881 million to eligible shareholders, paying £0.002734 per share of Class B. In other words, after selling the BTC, the money will not remain on the company’s books—it’s set to be returned directly to shareholders.
Honestly, this outcome is quite representative. The company once put BTC into its treasury, but ultimately chose to completely exit—liquidating its assets and ending its listed status. For shareholders, at least the path is clear; but for those who expected the company to continue holding BTC, it may be a bit unsettling.
🤔 Do you think a listed company placing BTC in its treasury and then ultimately choosing to liquidate and delist was a failed experiment, or a more rational move to cut losses?
#BTC #比特币财库 #Satsuma #cryptocurrency market
🔥 More importantly, this isn’t a routine treasury reallocation. In July, Satsuma’s shareholders approved the liquidation of the BTC treasury and the company’s delisting. Now, the UK High Court has also approved the subsequent capital reduction plan.
💰 Under the plan, the company will refund approximately £30.718881 million to eligible shareholders, paying £0.002734 per share of Class B. In other words, after selling the BTC, the money will not remain on the company’s books—it’s set to be returned directly to shareholders.
Honestly, this outcome is quite representative. The company once put BTC into its treasury, but ultimately chose to completely exit—liquidating its assets and ending its listed status. For shareholders, at least the path is clear; but for those who expected the company to continue holding BTC, it may be a bit unsettling.
🤔 Do you think a listed company placing BTC in its treasury and then ultimately choosing to liquidate and delist was a failed experiment, or a more rational move to cut losses?
#BTC #比特币财库 #Satsuma #cryptocurrency market
