Sequans Communications has added 755 more bitcoins to its corporate treasury, taking its total BTC holdings to 3,072. The semiconductor firm spent around $88.5 million on its latest purchase, paying an average price of $117,296 per bitcoin, including fees.
With this, the company’s total investment in bitcoin stands at roughly $358.5 million, based on current market prices. Sequans said it used the entire proceeds from an equity offering it completed earlier this month, on July 7, to fund the purchase.
The Paris-headquartered company, which designs 4G and 5G chips for IoT (Internet of Things) devices, has made bitcoin its primary treasury reserve asset. It’s following a strategy of using capital from equity and debt raises, along with cash generated from operations and IP licensing, to accumulate more bitcoin over time.
Founded in 2003, Sequans operates across multiple countries, including the U.S., the UK, Switzerland, Israel, Singapore, Finland, Taiwan, and China. It is listed on the NASDAQ under the ticker SQNS.
With 3,072 bitcoins now on its books, Sequans holds roughly 0.17% of all bitcoin in circulation. The company’s steady accumulation comes as more businesses have begun treating bitcoin less like a gamble and more like a serious part of their financial planning, especially with growing concerns around inflation, rising debt, and weakening currencies.
Sequans’ move is part of a broader shift, with more companies adding bitcoin to their treasuries, not to chase gains, but to protect value as cash loses ground.
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