Sequans Buys Bitcoin, Plans 3,000+ BTC Treasury
Sequans Buys Bitcoin, Plans 3,000+ BTC Treasury

Sequans Buys Bitcoin, Plans 3,000+ BTC Treasury

News summary

Sequans Communications, a Paris-based semiconductor company specializing in 4G and 5G IoT chipsets, has raised $384 million through equity and convertible debentures to fund a Bitcoin treasury strategy. The company has already purchased 370 bitcoins and plans to accumulate over 3,000 BTC in the coming weeks, joining the ranks of major corporate Bitcoin holders such as MicroStrategy and Marathon. CEO Georges Karam stated that the move aims to enhance financial resilience, hedge against inflation, and generate long-term shareholder value. Sequans’ share price surged 40% after the announcement but remains down about 50% year-to-date due to earlier losses. Swan Bitcoin will assist in the acquisition and custodianship of its bitcoin holdings. Analysts are optimistic about Sequans’ long-term revenue growth tied to its core IoT and 5G business, despite ongoing short-term financial challenges.

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