Every Zipp story tagged #InstitutionalSelling, newest first.
KULR joins a wave of public companies unwinding BTC-heavy balance sheets as equity premiums and crypto-treasury financing tightened.
The Satsuma exit shows the other face of the corporate-BTC treasury trade: a reported 90% shareholder revolt forced the entire 669-BTC stack onto the market at a price the company did not pick.
Staking revenue did not offset losses on the underlying treasury, and stock issuance added another layer of balance-sheet risk.
The disposal challenges the accumulation narrative around one of Bitcoin's most visible corporate holders.
Debt, dividends and buybacks are testing the corporate Bitcoin reserve model, as companies treat BTC less like a sacred holding and more like liquidity.
The sale cut the company's stash nearly in half and funds its first hyperscaler deal, a signal that the 2025 treasury-company cohort is now a structural source of BTC supply, not demand.
The dollar size is trivial, but the symbol is not: Strategy hadn't sold since December 2022, and even then it bought back within 48 hours.
CEO Phong Le confirmed the pivot on Tuesday's earnings call, with the $66.8B stack — nearly 4% of all Bitcoin — now managed as an active treasury asset rather than a permanent hold.
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