Sequans Communications, a tech company from Paris, is jumping into Bitcoin. The company says it will invest $384 million to build its own Bitcoin treasury. This move makes Sequans one of many companies now adding BTC to their treasuries. The company aims to raise funds through a mix of $195 million in equity securities and $189 million in convertible debentures.
Sequams confirmed the move in an X on post earlier today, calling it a “bold step” that fits with its work in cellular IoT. To manage the treasury, the company will partner with Swan Bitcoin, a U.S.-based Bitcoin-only financial firm.
CEO Georges Karam said, “Our bitcoin treasury strategy reflects our strong conviction in bitcoin as a premier asset and a compelling long-term investment.” He added that this step is meant to boost the company’s financial strength and provide value to shareholders.
Despite the pivot, Sequans says its focus on 4G and 5G IoT products remains unchanged. The company believes its Bitcoin initiative will not distract from its current roadmap. “We continue to support our customers with a robust 4G and 5G product roadmap, delivering innovative solutions to meet evolving IoT application needs and ensuring a seamless transition from 4G to 5G,” Karam stated, assuring that the BTC investment will complement, not replace, its tech operations.
Sequans is not alone. The Bitcoin treasury trend has been picking up speed across industries. According to BitcoinTreasuries.net, around 240 companies now hold Bitcoin on their balance sheets, up from just 124 a few weeks ago. Together, these firms hold close to 4% in supply. As Bitcoin stays above $100,000, more firms see it as a hedge and a reserve asset.
Blockstream CEO Adam Back called this new wave the “altcoin season” for Bitcoin. He wrote, “Time to dump ALTs into BTC or BTC treasuries,” highlighting how companies are shifting focus toward the top cryptocurrency. As more firms follow suit, the Bitcoin treasury trend shows no signs of slowing down.
