Sequans Communications Begins Bitcoin Treasury with 370 BTC Acquisition
Sequans Communications (SQNS), a leading player in the cellular semiconductor industry, has initiated its bitcoin treasury strategy with the purchase of 370 BTC.
The acquisition was funded using proceeds from its recent equity and convertible debenture offering, which closed on July 7.
Georges Karam, CEO of Sequans, commented, “We are pleased to commence our strategic plan to build a bitcoin treasury exceeding 3,000 BTC in the coming weeks. This move reflects our strong belief in bitcoin as a durable store of value for our shareholders.”
To securely manage its holdings, Sequans has selected Coinbase Prime, benefiting from its institutional-grade custody services.
Following the news, Sequans Communications’ shares saw a 2% gain in pre-market trading.
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