Bitcoin
Sequans Communications ($SQNS) to Raise $384 Million for Dedicated Bitcoin Treasury
Sequans Communications ($SQNS) to Raise $384 Million for Dedicated Bitcoin Treasury
Paris, France – June 23, 2025 – Sequans Communications S.A. (NYSE: SQNS), a leading developer of 5G/4G IoT semiconductors and modules, has announced a bold strategic move to establish a dedicated Bitcoin treasury. The company plans to raise approximately $384 million through private placement offerings, marking a significant pivot into cryptocurrency as a long-term asset alongside its core semiconductor business.
The funding will be split into $195 million in equity securities and $189 million in convertible secured debentures. Sequans has partnered with Swan Bitcoin, a prominent U.S.-based Bitcoin wealth management platform, to manage the treasury initiative. This collaboration aims to leverage Bitcoin’s potential as a hedge against inflation and a store of value, reflecting growing corporate interest in digital assets.
CEO Georges Karam emphasized the company’s confidence in this strategy, stating, “Our Bitcoin treasury strategy reflects our strong conviction in Bitcoin as a premier asset and a compelling long-term investment. We believe its unique characteristics will enhance our financial resilience and deliver significant value to our shareholders.” The move comes as Sequans faces a NYSE non-compliance notice due to its market capitalization falling below the required $50 million threshold, with 90 days to submit a compliance plan.
Despite this financial challenge, Sequans reported a 33.6% year-over-year revenue increase to $8.1 million in Q1 2025, though it recorded a net loss of $7.3 million. The Bitcoin treasury initiative, expected to close around July 1, 2025 pending shareholder approval, positions Sequans among a growing list of public companies diversifying into cryptocurrency reserves, following the likes of MicroStrategy and Tesla.
The announcement has sparked excitement in the market, with Sequans’ stock surging over 42% in pre-market trading. Analysts are watching closely to see if this strategic bet on Bitcoin can bolster the company’s financial standing and set a precedent for other tech firms in the IoT sector.
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Strategy, Inc. (Nasdaq: MSTR), the company led by Executive Chairman Michael Saylor, acquired an additional 250 bitcoin for approximately $21.5 million between October 5 and October 11, 2026, at an average price of $86,194 per coin (including fees and expenses). The purchase brings the firm’s total holdings to 848,250 BTC.
The company funded the acquisition primarily through net proceeds of about $21 million from at-the-market sales of 125,183 shares of its Class A common stock (MSTR), with the remaining roughly $0.5 million drawn from its USD cash balance. No preferred stock was sold during the period. Strategy’s cumulative bitcoin investment now stands at roughly $64 billion, acquired at an average cost basis of approximately $75,444 per coin. At recent market prices, the holdings represent more than 4% of Bitcoin’s fixed 21 million supply cap and carry substantial unrealized gains.
In the same weekly update, Strategy reported repurchasing 1,932,145 shares of its STRC preferred stock (Variable Rate Series A Perpetual Stretch Preferred Stock) for an aggregate of about $192.4 million. The company maintains a large USD reserve—previously reported near $4.88–$5.5 billion—to support preferred stock dividends and interest payments on outstanding debt. Additional cash balances remain available for treasury activities, including further bitcoin purchases.
Saylor highlighted the latest acquisition on X with the familiar phrase “There’s always room for more orange,” continuing his long-running pattern of signaling accumulation. Strategy remains the largest publicly traded corporate holder of bitcoin. The move occurred against a backdrop of elevated volatility, with bitcoin trading in the roughly $81,000–$84,000 range around October 12 after earlier strength above $84,000.
The latest purchase marks continued, if more modest, weekly accumulation following larger buys in prior weeks. Strategy has paired ongoing bitcoin treasury expansion with active capital management, including preferred-stock repurchases, while relying on equity issuance and existing cash reserves to fund purchases.
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