Sequans Buys 1,264 BTC, Shares Surge 14.81%

Sequans Communications acquires 1,264 Bitcoin, boosting share price by 14.81% in pre-market trading.

Sequans Communications S.A., a US-listed semiconductor company, invested about $150 million in acquiring 1,264 Bitcoin, pushing its total holdings to 2,317 BTC. The acquisition, announced on July 21st, significantly impacted pre-market trading as the company’s shares jumped 14.81% to $3.1. This move reinforces Bitcoin’s role as a strategic reserve asset and follows trends set by other major companies. The market responded positively to Sequans’ purchase, potentially signaling increased institutional confidence in Bitcoin.

Sequans’ $150 Million Bitcoin Bet Pays Off

Sequans Communications invested $150 million to acquire an additional 1,264 bitcoins. The company now has a total holding of 2,317 BTC, priced at an average of $116,493 per bitcoin. Their aim is to strategically hold BTC as a long-term asset.

“Sequans stated it views Bitcoin as a ‘long-term store of value’ and plans to continue accumulating it strategically using proceeds from equity and debt issuances, as well as cash generated from operations and intellectual property monetization.” – Georges Karam, Chairman and Chief Executive Officer, Sequans Communications S.A.

Community reactions have not surfaced prominently, as no major crypto influencers or figures from Sequans made public statements. The market perception remains positive, reflecting support for integrating Bitcoin into corporate reserves.

Bitcoin’s Corporate Adoption Shows No Signs of Slowing

Did you know? MicroStrategy’s similar strategic move to integrate Bitcoin has positioned it as a key corporate model, resulting in stock valuation growth and increased institutional interest in digital assets.

According to CoinMarketCap, Bitcoin (BTC) currently trades at $118,025.09, with a market cap of formatNumber(2348165515601.76, 2) and a dominant market share of 59.67%. The circulating supply stands at 19,895,478, approaching its max supply of 21 million. This indicates a robust growth potential contextually comparable to past corporate integrations.

The Coincu research team suggests the rising trend of Bitcoin integration within corporate reserves, evidenced by Sequans and its industry peers, potentially influences both regulatory considerations and technological adoption of blockchain solutions. Long-term market stability is likely to increase as institutional investments strengthen.