Sequans’ Bitcoin Gambit: A Tale of Chips and Crypto

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Oh, dear reader, in the bustling city of Paris, where the Seine flows with the grace of a lady and the croissants are as flaky as dreams, there exists a company known as Sequans Communications. This French semiconductor company, whose chips are as vital to the modern world as the bread to the peasant’s table, has decided to embark on a most peculiar adventure. On a Monday, of all days, they filed for a $200 million at-the-market equity offering, not to build more factories or invent newer chips, but to fill their coffers with the elusive and volatile Bitcoin. 📈💰

The 4G and 5G chipmaker, in a stroke of genius or madness (who can tell these days?), plans to issue American Depositary Shares, those magical pieces of paper that allow foreign companies to trade on U.S. stock exchanges, whenever the mood strikes them. They announced this grand scheme in a filing to the Securities and Exchange Commission, as if to say, “Watch us, world, we’re going to make a spectacle of ourselves!” 🎪🎭

Georges Karam, the CEO of Sequans, with a twinkle in his eye and a smile that could charm the birds from the trees, stated, “We intend to use it judiciously to optimize our treasury, increase Bitcoin per share, and deliver long-term value to shareholders.” One can almost hear the echoes of his laughter, mingling with the clinking of coins in the treasury. 🤣💰

According to BitBo’s Bitcoin treasury data, the Paris-based company already holds 3,171 Bitcoin (BTC), worth a staggering $349 million on its balance sheet. This makes them Europe’s second-largest corporate Bitcoin treasury, right behind Germany’s Bitcoin Group SE, who, with 12,387 BTC, must be feeling a bit like the king of the castle. 🏰👑

Sequans first announced its plan to use Bitcoin as a core treasury asset on June 23, joining a growing trend of publicly traded companies that have adopted the cryptocurrency as an inflation hedge and store of value. Their ambitious goal? To amass 100,000 Bitcoin by 2030. One can only imagine the conversations at board meetings, where the air is thick with the scent of ambition and the whisper of risk. 💼📊

The number of public companies holding Bitcoin has risen to 174, up from fewer than 100 at the start of 2025. It seems the world is catching on to the allure of digital gold, or perhaps just the thrill of the gamble. 🎲✨

Sequans could notch 5,000 Bitcoin with the proceeds

The semiconductor company, ever the master of timing, will decide when and how many shares to sell under the equity program based on market conditions and other factors. The net proceeds from the offering are expected to be “primarily used to continue accumulating Bitcoin in alignment with the Company’s treasury strategy.”

At current market prices, $200 million could buy Sequans another 1,814 BTC, bringing its total Bitcoin stash to nearly 5,000 BTC – roughly the same amount as what Semler Scientific currently holds. One can almost see the gleam in the eyes of the executives, as they envision their company’s name etched in the annals of crypto history. 📜🌟

Sequans closed Monday trading at $0.96, down 6.8% over the trading day. But fear not, for it has since risen 0.41% in after-hours trading. The markets, it seems, are as fickle as a Parisian spring. 🌸📉

Bitcoin treasury companies are buying the dip

The $200 million equity offering comes at a time when Bitcoin has taken a slight dip, falling to $110,045, 11.6% off the $124,517 all-time high it set on Aug. 14. But the brave souls at Sequans and other Bitcoin treasury companies are undeterred. The largest corporate Bitcoin holder, Strategy, scooped up another 3,081 Bitcoin on Monday, bringing its total to 632,457 BTC. Meanwhile, Metaplanet bought 103 BTC to start the week, proving that even in the face of volatility, there are those who see opportunity. 🚀🔥

ETH treasury companies steal the spotlight

But wait, dear reader, for the tale does not end there. Corporate Bitcoin adoption has slowed recently, thanks to the rise of Ether (ETH) treasury companies. BitMine Immersion Technologies, once a humble Bitcoin mining company, has now transformed into an ETH treasury giant, holding the second-largest crypto treasury with $7.5 billion in ETH. SharpLink and The Ether Machine round out the top three ETH treasury company holdings with $3.24 billion and $1.51 billion in holdings, respectively, according to StrategicETHReserve.xyz.

The ETH treasury adoption has contributed to ETH’s 198% price rally since April 9, allowing it to catch up with Bitcoin in the current bull cycle. It seems that in the world of cryptocurrencies, the only constant is change, and the only certainty is the unexpected. 🌀🔮

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2025-08-26 04:17