Market News

UK Firm Satsuma Technology Blazes a Trail with Bitcoin Financing, Drawing Comparisons to MicroStrategy

A London-listed company has made headlines by settling the majority of its recent financing in Bitcoin, signaling a new wave of institutional adoption.

Satsuma Technology, formerly known as TAO Alpha, raised £163.6 million ($218 million) through convertible notes, with nearly 60% settled in BTC.

This unprecedented move marks the first large-scale Bitcoin-denominated capital raise by a publicly listed firm in the UK.

Satsuma now holds 1,126 BTC, valued at over $128 million, as part of its corporate strategy to enhance its decentralized AI infrastructure.

CEO Henry K. Elder has emphasized transparency, planning to regularly report on their Bitcoin holdings as part of the operational structure.

Satsuma’s strategy stands in contrast to MicroStrategy, which typically raises capital in fiat before converting it to Bitcoin.

MicroStrategy, led by Michael Saylor, has positioned itself as a major Bitcoin player, but Satsuma is adopting a direct Bitcoin acceptance approach from the outset.

The fundraising round attracted significant support from both crypto and traditional finance, indicating a shifting attitude toward digital assets in the UK.

As regulatory frameworks evolve and attitudes soften, Satsuma may pave the way for other UK companies to incorporate Bitcoin more extensively.

This trend reflects a broader growing acceptance of cryptocurrency as a long-term investment strategy among UK businesses.