Tao Alpha, which is to be officially rebranded as Satsuma Technology, made headlines after acquiring 28.56 BTC, worth $3.37 million, on July 13. Besides this strategic Bitcoin purchase, the London-listed firm appointed Henry Elder as its new CEO.
The Bitcoin purchase was made through a new Singapore-based subsidiary, using funds from a recently closed £5 million seed round. According to the company, it made the purchase at an average price of $118,159 per BTC. The move boosted Satsuma’s asset base, giving it a position for future AI-based deployments.
Henry Elder previously held a senior role at UTXO Management, where he advised global firms on Bitcoin strategies. Elder stepped down from UTXO to fully focus on scaling Satsuma’s operations. His addition to the board is pending standard due diligence, but expected to be finalized soon.
Additionally, Elder brings deep institutional experience and is widely respected in Bitcoin circles. The company’s Chairman, Matt Lodge, praised his leadership and vision. Lodge stated, “We are delighted that Henry Elder has agreed to join the Company as full-time CEO. He has a proven track record of leadership in the Bitcoin and decentralised finance industries, and his work has positioned him as one of the foremost thinkers globally when it comes to corporate Bitcoin treasury strategy.”
Satsuma aims to build a Bitcoin-native treasury while developing decentralized AI systems. The firm stated that excess capital would remain in BTC, but operating costs would stay in cash. Hence, treasury allocations will change based on capital needs and market conditions.
Additionally, Satsuma sees the London Stock Exchange as an ideal platform for scaling its strategy. With fresh capital, strong leadership, and a clear focus, the company is positioning itself at the crossroads of finance and decentralized tech.
Also Read: Metaplanet Buys $93.6 Million in Bitcoin, Stock Price Jumps
