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UK Bitcoin funding strategy
Key Points:* Satsuma Technology secures £100M to enhance Bitcoin holdings.
The company’s strategy impacts the market through its increased Bitcoin acquisition, and further diversification plans are on the horizon as they prepare for a short-term round targeting key strategic investors in the US. This development indicates a notable shift in their funding strategy, reflecting broader market confidence in Bitcoin as a corporate asset.
Industry observers note the absence of significant social media commentary from figures like Elder or Chairman Matt Lodge. Nonetheless, Elder’s background in advising on Bitcoin strategies adds credibility to the company’s redefined financial approach.
Bitcoin Trading at $118,518.50 Amid Satsuma’s Strategic Shift
Did you know? Satsuma’s move mirrors similar actions by companies like MicroStrategy, which initiated large-scale Bitcoin buys in 2020, affecting the sector’s institutional acceptance.
According to CoinMarketCap, Bitcoin currently trades at $118,518.50, with a market cap of $2.36 trillion and a market dominance of 61.20%. Recent changes show a 0.27% price increase in 24 hours but a 0.36% decrease over the past week. In contrast, it saw a notable 26.34% rise over the past 90 days, highlighting ongoing market resilience.
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