- Satsuma raises $135M, breaking UK record for corporate Bitcoin treasury.
- Company expects full funds soon, showing investor trust in Bitcoin strategy.
- Satsuma could surpass Phoenix Digital, becoming UK’s top corporate BTC holder.
A London-based artificial intelligence company, Satsuma Technology, has made headlines with a record-breaking Bitcoin treasury raise. The company declared that it has received 100 million British pounds, or approximately 135 million US dollars, as capital of its Bitcoin assets. This makes it the biggest BTC treasury funding that has been made by any company in the UK.
Satsuma Set to Overtake Phoenix Digital as Major Bitcoin Holder
As the company said on Thursday, all the commitments in the money have already been secured by Satsuma. It anticipates that the total will be in its books in two weeks. This indicates that investors have high levels of confidence in the company as well as Bitcoin as an asset.
Satsuma Technology CEO, Henry Elder, expressed his enthusiasm about this achievement. According to him, this capital raise is not only great news to Satsuma but also to the financial market in London. He thinks that it indicates the increasing relationship between corporate capital and decentralized artificial intelligence. Elder says that they are better than ever expected to be with the help of the institutions.
The Chief Bitcoin Strategist of Satsuma, Mark Moss, made a statement regarding the accomplishment as well. He clarified that the achievement following the target of 100 million pounds shows that the UK market believes in the objectives of the company. Satsuma intends to increase its stocks of Bitcoin even further with this new money. It will also leverage on this solid foundation in order to influence other UK firms to accept Bitcoin in their own treasuries.
The transfer is significant not only with the future of Satsuma in mind. It smashes the existing record of the largest treasury raise of a UK company in Bitcoin. At the current market rate, the amount of Bitcoin that Satsuma may own in the near future can significantly exceed the 247 BTC that Phoenix Digital Assets is currently in possession of, or 29 million dollars. This means Satsuma could become the UK’s second-largest corporate Bitcoin holder very soon.
Analysts Predict More UK Firms Will Adopt Satsuma’s Crypto Approach
This shows that more UK firms are adding Bitcoin to their treasuries. Just last week, another London company, The Smarter Web Company purchased additional 325 BTC to add to its reserves. This purchase cost approximately 27 million pounds, or well more than 36 million dollars. It forms part of a ten-year strategy that The Smarter Web has on the purchasing of some Bitcoin annually. These people are convinced that possessing Bitcoin will actually make them more powerful in the future.
Satsumas record rise news outlines the increased role of London in the international Bitcoins market. It is an indication that an increasing number of large companies in the UK are interested in combining digital currencies with newer forms of technology such as AI. This also complies with the general trend in Europe. A lot of European countries are trying to establish transparent regulations of crypto businesses. More investments into Bitcoin and other cryptocurrencies may come with even better rules.
In the future, several analysts believe that other firms in the UK would emulate Satsuma. In that case, London might be one of the epicenters of AI and crypto. In the meantime, Satsumas have made a bold step that has become a benchmark. It reveals the fact that Bitcoin may be a large element in the strategies of contemporary technology corporations.
