French semiconductor company Sequans Communications filed for a $200 million at-the-market equity offering on Monday to fuel its Bitcoin treasury strategy — with the longer-term aim to amass 100,000 Bitcoin by 2030.
The program will allow the 4G and 5G chipmaker to issue American Depositary Shares — US dollar-denominated equity shares of a foreign company that are traded on US stock exchanges — at its discretion, it said On Monday, the Securities and Exchange Commission received a report from the company.
“We intend to use it judiciously to optimize our treasury, increase Bitcoin per share, and deliver long-term value to shareholders,” Sequans CEO Georges Karam said A statement is a good example.
BitBo’s Bitcoin Treasury data The Paris-based firm currently has 3,171 Bitcoin.BTCThe company’s balance sheet shows that it has a Bitcoin Treasury worth $349 Million, the second largest corporate Bitcoin treasury in Europe after Germany’s Bitcoin Group SE which holds 12,387 BTC.
Sequans unveils its first plan to use Bitcoin as a core treasury asset Joining a trend where public companies are adopting cryptocurrency to hedge inflation on the 23rd of June. store of value. The previous statement was that it was striving Amassing 100,000 Bitcoins by 2030
From fewer than 100 companies at the beginning of 2025, there are now 174 public companies that hold Bitcoin.
With the proceeds, Sequans will be able to earn 5,000 Bitcoin
It is important to note that the word “you” means “you”. semiconductor company According to the statement, the company will determine the volume and timing of all share sales made under its equity program based on the market and other factors.
The expected net proceeds of the offer are “primarily used to continue accumulating Bitcoin in alignment with the Company’s treasury strategy,” Sequans said.
At current market prices, $200 million could buy Sequans another 1,814 BTC, bringing its total Bitcoin stash to nearly 5,000 BTC — roughly the same amount as what Semler Scientific currently holds.
Sequans ended Monday’s trading session at $0.96. This is a 6.8% decline from the previous trading day. Since then, it has risen by 0.41% after hours.
The dip is being bought by Bitcoin Treasury companies
Bitcoin is down to $104,545 or 11.6% from the previous price. $124,517 all-time high It was released on August 14.
Strategy is the largest Bitcoin corporate holder. another 3,081 Bitcoin on Monday — bringing its total to 632,457 BTC — while Metaplanet bought 103 BTC for the start of the week
ETH treasury corporations steal the spotlight
Recently, corporate Bitcoin adoption has been slowed due to Ether’s rise (ETHTreasury companies (treasury corporations) BitMine Immersion Technologies — originally a Bitcoin mining company, now turned ETH treasury company — now holding the second-largest crypto treasury with $7.5 billion in ETH.
Related: Strategy buys $357M in Bitcoin as price drops to $112K
SharpLink, The Ether Machine, and The Ether Machine are the next two treasury companies with $3.24 and $1.51 Billion in assets, respectively. according to StrategicETHReserve.xyz.
The ETH treasury has helped ETH to gain 198% on Bitcoin since April 9 and regain lost ground.
Magazine: Bitcoin’s long-term security budget problem: Impending crisis or FUD?
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: cointelegraph.com
