Sequans to Raise $385M for Bitcoin Treasury in 2025

Sequans Communications, a Paris-based IoT semiconductor company, announced plans to raise about $384–$385 million via equity and convertible debt offerings to establish a Bitcoin treasury, with Swan Bitcoin set to manage the treasury. The financing is expected to close around July 1, 2025, pending shareholder approval. CEO Georges Karam stated that this move reflects the company's strong conviction in Bitcoin as a long-term investment aimed at boosting financial resilience and shareholder value. Sequans' strategy follows examples set by firms like MicroStrategy and Metaplanet, signaling a trend of publicly traded companies adopting Bitcoin as a reserve asset. The announcement led to notable stock price movement and increased Bitcoin trading volume, despite Sequans' relatively small market capitalization. Corporate concerns about Bitcoin's volatility and regulatory uncertainty persist, with major companies like Amazon and Microsoft abstaining from similar strategies.