Satsuma Votes to Liquidate Bitcoin Holdings and Delist

Investors in Satsuma Technology have officially voted to wind down the company. During a general meeting held on July 20, shareholders passed resolutions to liquidate the remaining 668 bitcoin and remove the company from the London Stock Exchange. The move comes after significant pressure from investors to return cash rather than continue operations.

Satsuma faced a difficult path after buying much of its bitcoin at prices exceeding 113,000 dollars per coin. As market prices dropped, the company saw its share price fall by more than 99 percent from its previous peak. Despite internal disagreements among the board members, the overwhelming majority of shareholders supported the plan to exit the market and distribute the remaining assets.

The liquidation process is already in motion. The company must now petition the UK High Court to finalize the capital return. If the timeline stays on track, the listing cancellation will occur on September 14, with final payments to shareholders expected by September 28. This decision highlights the growing struggle for smaller public firms that hold bitcoin as their primary treasury asset.