Satsuma Technology (LSE: SATS) sold nearly half its bitcoin treasury and announced major board changes as it prepares for a planned uplisting to the London Stock Exchange’s main market.

The U.K.-based company sold 579 BTC out of its 1,199 BTC holdings, raising about £40 million ($53 million) in net proceeds, according to a Thursday announcement. The move leaves Satsuma with 620 BTC and roughly £90 million in cash.

The sale is designed to ensure the company has enough liquidity to repay £78 million in convertible loan notes due on Dec. 31, 2025. 

Some noteholders have not yet committed to converting their debt into equity once Satsuma publishes its prospectus for the…

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Corporate Bitcoin treasuries faced mark-to-market losses in November, according to an exclusive Corporate Adoption Report from Bitcoin Treasuries. 

The report, covering more than 100 companies, offers a systematic look at how last month’s price drop affected public company holdings.

Bitcoin briefly fell below $90,000 in late November. The decline pushed many 2025 buyers into the red. Of the 100 companies for which cost basis is measurable, about two-thirds now sit on unrealized losses at current prices, per the report.

Despite the volatility, large balance sheets continued to dominate net Bitcoin buying. Strategy, Strive, and a small cohort of high-conviction buyers accounted for…

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This piece is featured in the print edition of Bitcoin Magazine, The Freedom Issue. We’re sharing it here as a sample of the ideas explored throughout the full issue.

On November 3, 2025, the freedom for developers to build financial privacy software is on trial.

Samourai Wallet was a Bitcoin privacy wallet developed by Keonne Rodriguez and William Lonergan Hill. It included specialized privacy tools that mixed the coins of wallet users in ways that required no third-party custody. The service’s servers helped coordinate “mixing” — methods to conceal the origin of coins and offer users some degree of forward privacy.

Rodriguez and Hill were arrested on April 24,…

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Bitcoin price surged above $94,000 today following a 25-basis-point rate cut by the Federal Reserve.

The Fed lowered its benchmark interest rate to 3.50%–3.75% to support maximum employment and contain somewhat elevated inflation amid moderate economic growth and slowing job gains.

This is the Fed’s third rate cut this year and the first since October. Most officials backed the move, while three dissented — one favoring a larger cut, two preferring no change.

Fed forecasts for 2026 and 2027 remain modest, with expectations for small rate reductions, 4.4% unemployment, and 2.4% PCE inflation.

The rate decision pushed the Bitcoin price higher, although markets had largely priced…

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SpaceX moved another 1,021 bitcoin on Wednesday, worth about $94.5 million.

The transfer was split between two unlabeled addresses via Coinbase Prime custody. One address received 614 BTC, the other 407 BTC.

This marks the ninth such transfer by SpaceX this year. Recent movements total around 8,910 BTC, valued near $924 million. Analysts say the company is consolidating its holdings and upgrading from legacy bitcoin addresses. 

SpaceX’s bitcoin holdings were tagged on-chain by Arkham Intelligence. The company currently controls about 3,991 BTC, worth roughly $367 million at current prices. Holdings have fluctuated over the past several years. 

The total once peaked…

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Strategy, the world’s largest Bitcoin treasury company, has submitted a formal response to MSCI’s consultation on digital asset treasury companies (DATs), urging the index provider not to exclude companies whose digital asset holdings exceed 50% of total assets.

In its detailed letter to the MSCI Equity Index Committee, Strategy argued that the proposed threshold is “misguided” and would have “profoundly harmful consequences” for both investors and the broader digital asset industry.

Founded in 1989, the company operates as a corporate treasury and capital markets business with significant Bitcoin holdings, offering investors a range of equity and fixed-income…

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American Bitcoin Corp. (Nasdaq: ABTC) continued to expand its BTC treasury, adding roughly 416 BTC over the past week and lifting total holdings to about 4,783 BTC as of Dec. 8, according to a company update released Wednesday. 

The latest additions bring American Bitcoin’s reserve to one of the largest among U.S.-listed companies focused on BTC accumulation. The holdings were built through a mix of in-house mining and strategic market purchases, the company said. 

The total also includes BTC held in custody or pledged as collateral for miner purchases under a supply agreement with hardware manufacturer Bitmain.

American Bitcoin, which listed on Nasdaq earlier this year, also…

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The Samourai Wallet matter raises a fundamental question about how the United States treats non-custodial software and the developers who create it. Keonne Rodriguez and William Lonergan Hill did not operate a financial service or handle customer assets. They wrote and maintained software that allowed users to construct collaborative Bitcoin transactions in a privacy-preserving way. Throughout the tool’s entire lifecycle, users controlled their own keys, initiated their own transactions, and never relied on Samourai or its developers to transmit or safeguard value. The distinction between a custodial service and a non-custodial tool is not a technicality; it is the core boundary that…

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