Sequans Communications Launches Bitcoin Treasury with 370 BTC Acquisition

Sequans Communications Launches Bitcoin Treasury with Initial Purchase of 370 BTC

Sequans Communications (SQNS), a prominent cellular semiconductor company, has revealed its entry into the bitcoin treasury space with an initial acquisition of 370 BTC.

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

CEO Georges Karam expressed enthusiasm about the plan, stating, “We are excited to begin executing our strategic plan to accumulate over 3,000 BTC in the coming weeks. This initiative demonstrates our confidence in bitcoin as a long-term store of value for our shareholders.”

Sequans has partnered with Coinbase, leveraging its institutional-grade custody solution, Coinbase Prime, to safeguard its digital assets.

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

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