UK-based Satsuma Technology will unwind its bitcoin treasury strategy and remove its shares from London trading after shareholders approved both moves. The decision arrives less than a year after the company raised $218 million to build a corporate bitcoin holding, a plan that mirrored the treasury approach popularized by other public firms. The reversal signals a rapid retreat from that strategy, with the liquidation of the bitcoin position and the delisting marking a significant shift for the company's direction and public-market presence. The vote reflects growing scrutiny of the bitcoin treasury model, which has seen mixed results among adopters. Details on the timing of asset sales and the reasoning behind abandoning the strategy so soon after the capital raise were central to the outcome, underscoring investor caution around holding volatile digital assets on corporate balance sheets.
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