Key facts
- Satsuma shareholders approved the liquidation of the company's Bitcoin holdings.
- The company will distribute the proceeds from the Bitcoin sale to its investors.
- Satsuma will delist from the London Stock Exchange.
- The decision concludes Satsuma's strategy of holding Bitcoin on its balance sheet.
Satsuma shareholders have voted to sell the company's 668 Bitcoin holdings, return the cash to investors, and delist from the London Stock Exchange. This decision marks the end of Satsuma's experiment with holding Bitcoin on its balance sheet after incurring significant losses.
The vote by shareholders signals a shift away from the company's previous strategy of maintaining a Bitcoin treasury.