A London-based company, Satsuma Technology (formerly TAO Alpha PLC), just landed a massive $135 million funding round. This cash injection will supercharge their Bitcoin buying strategy.
Fueling the Bitcoin Fire
The funding came from a private offering of a convertible loan note, with Fortified Securities and Dawson Jones handling the distribution. This deal could catapult Satsuma to the number two spot among UK companies holding Bitcoin. Currently, they’re fifth, with a relatively modest 29 BTC. The top spot belongs to The Smarter Web Company, boasting a hefty 1,600 BTC.
Mark Moss on the Money
Mark Moss, Satsuma’s Chief Bitcoin Strategist, is thrilled. He sees this funding as a huge vote of confidence and plans to use the money to:
- Aggressively buy more Bitcoin.
- Build a London-based platform to promote decentralized finance.
- Push for wider institutional Bitcoin adoption across Europe.
The UK’s Bitcoin Embrace
While the US is a major player in the crypto world, the UK is catching up. Recent moves include:
- Draft legislation to create a clear regulatory framework for crypto.
- A proposal by Nigel Farage to create a Bitcoin reserve at the Bank of England.
- A bill to lower capital gains tax on crypto.
- Even a gold mining company, Bluebird Mining Ventures, is jumping on the Bitcoin bandwagon.
The Bitcoin price at the time of writing was around $118,339.