Treasury companies and miners offload bitcoin to cover debts
Strategy treasury companies and miners are selling off their holdings as prices keep falling and debt piles up.
Big names like Strategy, Satsuma, Sequans, and Nakamoto have been offloading bitcoin to pay down loans or just keep things running.
Even mining firms like MARA Holdings and Bitdeer are cashing out some of their stash to invest in AI data centers.
Satsuma approves bitcoin liquidation
Satsuma shareholders approved the liquidation of all bitcoin, a return of capital, and a delisting from the London Stock Exchange. Sequans also sold most of its coins.
Nakamoto raised $20 million by selling bitcoin, but still has most of its reserves tied up as loan collateral.
Meanwhile, leadership shake-ups, like Jack Mallers stepping down at Twenty One Capital, and called-off mergers show how much the crypto world is having to rethink its game plan right now.