Sequans Communications, a semiconductor firm based mostly in Paris and listed on the New York Inventory Trade (NYSE), has launched a brand new plan to develop its Bitcoin
$110,999.75
reserves.
The agency has filed for an at-the-market (ATM) share providing that might herald as a lot as $200 million. Most of this funding is about to assist its long-term technique of holding Bitcoin as a part of its firm reserves.
The corporate’s CEO, Dr. Georges Karam, described the plan as a cautious and structured strategy to strengthening the corporate’s monetary base. As a substitute of constructing massive, one-time purchases, the ATM setup permits Sequans to step by step challenge shares and lift funds based mostly on market circumstances.
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This newest effort provides to the corporate’s earlier fundraising in July, when it introduced in $189 million via a mixture of convertible bonds and warrants. Collectively, Sequans has raised round $376 million in latest months to assist its Bitcoin technique and monetary objectives.
Underneath the newly filed program, Sequans will promote American Depositary Shares (ADSs), that are utilized by non-US firms to let American buyers purchase their inventory extra simply.
As of now, Sequans already owns over 3,000 BTC, a complete valued at almost $331 million. That makes it one of many high Bitcoin-holding firms in Europe, second solely to Germany’s Bitcoin Group SE. The corporate’s longer-term objective is to carry 100,000 Bitcoin by the 12 months 2030.
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