Sequans Communications Embraces Bitcoin as Treasury Asset with 370 BTC Purchase, Eyes 3,000 BTC Accumulation

In a bold move signaling growing corporate adoption of Bitcoin, Sequans Communications (SQNS), a leading cellular semiconductor manufacturer, has announced its inaugural Bitcoin treasury strategy. The company has acquired 370 BTC as the first step in a plan to accumulate over 3,000 BTC in the coming weeks. CEO Georges Karam highlighted Bitcoin's role as a long-term store of value for shareholders, demonstrating the firm's confidence in cryptocurrency's potential. This strategic pivot comes as more traditional companies explore digital assets as part of their treasury management approaches, potentially signaling broader institutional acceptance of Bitcoin. The acquisition was financed through...

Sequans Communications Initiates Bitcoin Treasury Strategy with 370 BTC Purchase

Sequans Communications (SQNS), a cellular semiconductor manufacturer, has made its first foray into cryptocurrency by acquiring 370 Bitcoin. The purchase marks the beginning of a treasury strategy aimed at accumulating over 3,000 BTC in the coming weeks. CEO Georges Karam emphasized the company's confidence in Bitcoin as a long-term store of value for shareholders.

The acquisition was financed through proceeds from Sequans' recent equity and convertible debenture offering, which closed on July 7. Coinbase Prime has been selected as the institutional custodian for the bitcoin holdings.

Market reaction was immediately positive, with Sequans' shares rising 2% in pre-market trading following the announcement. The MOVE underscores growing corporate interest in Bitcoin as a treasury asset.

Cryptocurrency Market Surges as Bitcoin Hits Record High

Bitcoin shattered records with a meteoric rally, briefly surpassing $112,000 before settling at $111,255—marking its highest close since May. The flagship cryptocurrency's 2% gain catalyzed a broader market upswing, triggering $280 million in short liquidations within a single hour. Strahinja Savic of FRNT Financial observed investors increasingly treating BTC as a macroeconomic hedge.

Ethereum outpaced Bitcoin with a 7% surge to $2,772, while Solana and Dogecoin advanced 4% and 5.4% respectively. The rally extended across mid-cap tokens including XRP (+5%), Cardano, and Polkadot, signaling renewed risk appetite among traders.

Coinbase hosted the price discovery event as BTC eclipsed its May peak of $111,891. The exchange's data revealed concentrated institutional activity during the breakout, with derivatives markets reflecting extreme bullish positioning.