Satsuma Tech Crashes 99% After Liquidating $227M BTC Treasury

British fintech company Satsuma Technology has crashed a staggering 99% from its peak in 2025, with its market value plummeting to almost zero. The company's woes began when it liquidated its entire Bitcoin treasury of 1,097 BTC, selling the coins at an average price of £47,667 ($64,272) per coin, which is 43% below what it paid.

Satsuma had raised £168.9 million ($227.6 million) from noteholders in 2025, but its Chief Bitcoin Strategist Mark Moss explained that the company cannot return the BTC to investors due to UK regulations. Instead, investors will receive the dollar amount of the Bitcoin when they accepted it.

The company's troubles began when the BTC treasury bubble popped in early summer 2025, and most of the stocks associated with it have been performing negatively since their initial purchases.