Sequans Communications Launches Bitcoin Treasury with 370 BTC Purchase
Sequans Communications (SQNS), a leading semiconductor company specializing in cellular technology, has kicked off its bitcoin treasury program with an initial acquisition of 370 BTC.
This purchase was financed through the proceeds of its recent equity and convertible debenture offering, which closed on July 7.
CEO Georges Karam said, “We are excited to start executing our plan to accumulate over 3,000 BTC in the coming weeks. This initiative reflects our confidence in bitcoin as a long-term store of value for our shareholders.”
Sequans has partnered with Coinbase Prime to provide institutional-grade custody for its bitcoin holdings.
Following the announcement, Sequans Communications shares rose 2% in pre-market trading.
