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Jakarta, Pintu News – French semiconductor manufacturer Sequans Communications recently announced the launch of a $200 million equity program to buy Bitcoin (BTC). This strategic move aims to expand the company’s crypto holdings and reach a target of 100,000 BTC by 2030.
Check out the full information in this article!
Sequans Communications has announced plans to issue American Depositary Shares (ADS) subject to market conditions. According to a filing with the SEC, this step is being taken to optimize the company’s cash, increase the amount of Bitcoin per share, and provide long-term value for shareholders.
Georges Karam, CEO of Sequans, stated that the initiative is part of a broader strategy to strengthen the company’s position in the crypto ecosystem. The program was launched amidst a decline in market prices, with Bitcoin (BTC) currently trading at $109,862, down 13.3% from its previous high of $124,517.
Despite the downturn, Sequans sees this as an opportunity to buy more Bitcoin (BTC) at a lower price, in line with the buy-as-you-go strategy followed by other large companies.
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Data from BitBo shows that Sequans currently owns 3,171 Bitcoin (BTC) worth approximately $349 million. This makes Sequans the second-largest corporate Bitcoin holder in Europe, after Germany’s Bitcoin Group SE, which owns 12,387 Bitcoin (BTC).
With the funds from the new equity program, Sequans could potentially add 1,814 Bitcoin (BTC) to its coffers, which would bring their total holdings close to 5,000 Bitcoin (BTC), level with Semler Scientific.
At Monday’s market close, Sequans shares were down 6.8% to $0.96, but saw a slight recovery in after-hours trading. This shows that market volatility can still be overcome with the right investment strategy.
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With this new equity program, Sequans not only increases their Bitcoin (BTC) holdings, but also affirms their commitment to blockchain technology and its long-term growth potential.
The company plans to continue buying Bitcoin (BTC) until it reaches a target of 100,000 BTC by 2030, an ambition that shows high confidence in the value of Bitcoin (BTC) as an asset of the future.
In addition, Sequans also hopes that this move will boost investor confidence and strengthen the company’s position in the global market. By adopting a strategy that focuses on innovation and leading-edge technology, Sequans strives to not only survive the volatile market conditions but also to thrive.
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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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