Sequans Communications Initiates Bitcoin Treasury with 370 BTC Purchase

Sequans Communications Initiates Bitcoin Treasury with 370 BTC Purchase

Sequans Communications (SQNS), a prominent cellular semiconductor manufacturer, has launched its bitcoin treasury strategy by acquiring 370 BTC.

The acquisition was funded through proceeds from the company’s recent equity and convertible debenture offering, which closed on July 7.

Georges Karam, CEO of Sequans, stated, “We are pleased to begin implementing our strategic plan to accumulate over 3,000 BTC in the coming weeks. This move reflects our confidence in bitcoin as a durable store of value for our shareholders.”

Sequans has selected Coinbase Prime for institutional-grade custody of its bitcoin assets.

Following the announcement, Sequans Communications shares rose 2% in pre-market trading.