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bitcoin

Sequans Adds 1,264 Bitcoin To Balance Sheet Amid Growing Corporate Interest

Ash Tiwari
by Ash Tiwari
1 month ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Sequans Communications, a France-based fabless semiconductor firm, today announced the purchase of 1,264 Bitcoin (BTC) for a total of $150 million, averaging $118,659 per BTC. This latest acquisition brings the company’s total BTC holdings to 2,317 BTC.

Sequans Expands Bitcoin Holdings With 1,264 BTC Purchase

In an announcement made earlier today, French firm Sequans revealed it had acquired 1,264 BTC in its latest purchase. The New York Stock Exchange-listed (NYSE) firm now holds a total of 2,317 BTC, acquired at an average price of $116,493 per BTC, including fees.

Related Reading: Bitcoin’s True Value May Be As Global Settlement Layer, Not Just Currency: Ripple CTO

Sequans recently closed a $384 million private placement, aimed at funding its growing Bitcoin treasury strategy. CEO Georges Karam emphasized that the company’s decision to increase BTC exposure is driven by a goal to enhance financial resilience and long-term strategic optionality.

According to details, the deal consisted of a $195 million sale of American depository shares (ADS). In addition, the deal included warrants at $1.40, with $189 million of five-year secured convertible debentures valued at a 4% discount.  

Following today’s announcement, Sequans’ share price surged 8.2%, trading at $2.89 at the time of writing. However, the stock remains down by 12.5% on a year-to-date (YTD) basis.

sqns
Sequans Communications jumped more than 8% following today’s BTC purchase announcement | Source: Yahoo! Finance

Today’s purchase places Sequans Communications among the leading publicly listed companies with significant Bitcoin treasuries. According to CoinGecko data, only 17 companies globally hold more than 2,000 BTC on their balance sheets.

Michael Saylor’s Strategy remains the undisputed leader, having announced an additional 6,220 BTC purchase today, worth nearly $740 million. As of now, Strategy holds 607,770 BTC at an average cost of approximately $71,756 per BTC. 

Other names amongst the top 10 corporate Bitcoin holders include MARA Holdings, Riot Platforms, XXI, Metaplanet, Galaxy Digital Holdings, Tesla, and Coinbase. Major Bitcoin mining companies like CleanSpark Inc., and Hut 8 Mining Corp round out the list.

Wall Street Witnessing Bitcoin Frenzy

The past week has seen an unprecedented flurry of Bitcoin acquisition activity. Between July 14 and July 19 alone, there were at least 58 public announcements related to BTC purchases by institutional players. 

Related Reading: Bitcoin Hits All-Time High—And The Internet Can’t Stop Talking About It

A week ago, Japanese firm Metaplanet announced a 797 BTC purchase, propelling its total holdings to 16,352 BTC. Similarly, Nasdaq-listed Semler Scientific unveiled a 210 BTC acquisition last week.

The corporate embrace of Bitcoin appears to be spreading beyond the usual suspects in the US and Asia. Canadian firms are also beginning to explore BTC as part of their treasury allocation strategies, a trend that could accelerate if current market momentum holds. At press time, BTC trades at $118,933, up 0.5% in the past 24 hours.

bitcoin
Bitcoin trades at $118,933 on the daily chart | Source: BTCUSDT on TradingView.com
Featured image from Unsplash.com, charts from Yahoo! Finance and TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Ash Tiwari

Ash Tiwari

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Ash is a seasoned freelance editor and writer with extensive experience in the blockchain and cryptocurrency industry. Over the course of his career, he has contributed to major publications, playing a key role in shaping informative, timely content related to decentralized finance (DeFi), cryptocurrency trends, and blockchain innovation. His ability to break down complex topics has allowed both seasoned professionals and newcomers to the industry to benefit from his work. Beyond these specific roles, Ash's writing expertise spans a wide array of content, including news updates, long-form analysis, and thought leadership pieces. He has helped multiple platforms maintain high editorial standards, ensuring that articles not only inform but also engage readers through clarity and in-depth research. His work reflects a deep understanding of the rapidly evolving blockchain ecosystem, making him a valuable contributor in a field where staying current is essential. In addition to his writing work, Ash has developed a strong skill set in managing content teams. He has led diverse groups of writers and researchers, overseeing the editorial process from topic selection, approval, editing, to final publication. His leadership ensured that content production was timely, accurate, and aligned with the strategic goals of the platforms he worked with. This has not only strengthened his expertise in content strategy but also honed his project management and team coordination skills. Ash's ability to combine technical expertise with editorial oversight is further bolstered by his knowledge of blockchain analysis tools such as Etherscan, Dune Analytics, and Santiment. These tools have provided him with the data necessary to create well-researched, insightful articles that offer deeper market perspectives. Whether it’s tracking the movement of digital assets or analyzing blockchain transactions, his analytical approach adds value to the content he produces, ensuring readers receive accurate and actionable information. In the realm of content creation, Ash is not limited to just cryptocurrency markets. He has demonstrated versatility in covering other emerging technologies, market trends, and digital transformation across various industries. His in-depth research, coupled with a sharp editorial eye, has made him a sought-after professional in the freelance writing community. From developing editorial calendars to managing content delivery schedules, he has honed a meticulous approach to project management that ensures timely, high-quality work delivery. Throughout his freelance career, Ash has consistently focused on improving audience engagement through well-researched, insightful, and relevant content. His ability to adapt to the evolving needs of clients, whether it's enhancing the visibility of digital platforms or producing thought-provoking pieces for a wide range of audiences, sets him apart as a dynamic force in the field of digital content creation. His contributions have helped to shape a well-rounded portfolio that showcases his versatility, technical expertise, and dedication to elevating the standards of journalism in blockchain and related sectors.

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