Sequans Communications invests $384 million in Bitcoin treasury, moving beyond its semiconductor cellular IoT roots.
Bitcoin treasury season is in full swing across industries, with more companies placing big bets on the leading cryptocurrency.
Paris-based electronics company Sequence Communications is the latest to enter the trend, diversifying its portfolio with a BTC initiative.
The company has announced a staggering $384 million investment in Bitcoin, signaling its new financing strategy.
Sequans Communications Pledges $384M to Bitcoin Treasury
In the latest development in the Bitcoin treasury trend, Sequans Communications has made a massive $384 million investment in $BTC .
This marks a strategic expansion of the platform beyond its semiconductor cellular IoT roots. In an X post earlier today, the company wrote, "Big news from Sequans! We've launched our Bitcoin Treasury Initiative - a bold step that complements our leadership in cellular IoT."
Specifically, the company plans to raise approximately $384 million through a private placement, consisting of $195 million in equity securities and $189 million in convertible secured debentures.
To implement this initiative, the firm plans to collaborate with Swan Bitcoin, a well-known expert in Bitcoin treasury management. Sequans CEO Georges Kram noted,
“Our bitcoin treasury strategy reflects our strong conviction in bitcoin as a premier asset and a compelling long-term investment. We believe bitcoin’s unique characteristics will enhance our financial resilience and deliver significant value to our shareholders.”
Karam added that despite the diversification at BTC, the company will remain focused on its IoT semiconductor operations.
He quoted, "We continue to support our customers with a robust 4G and 5G product roadmap, providing innovative solutions to meet evolving IoT application needs and ensure a seamless transition from 4G to 5G."
Another major platform that has entered the Bitcoin treasury trend is Anthony Pompliano's ProCap Financial, which announced a $1 billion merger and raised $750 million.
Bitcoin Treasury Season Takes Center Stage
As BTC rises above the critical $100k zone, prominent industry players are increasingly investing in Bitcoin.
According to BitcoinTreasuries.net data, the number of public companies with bitcoin on their balance sheets has nearly doubled, from 124 to at least 240 firms. This is approximately 3.96% of the total BTC supply.
Recently, Michael Saylor's Strategy, one of the largest public holders of Bitcoin, further strengthened its $BTC portfolio.
The firm added 245 BTC to its total holdings for $26 million. The firm now holds a total of 592,345 BTC. Asia's MetaPlanet also bought 1,111 bitcoins, worth $118.2 million, bringing its total bitcoin holdings to 11,111 BTC.
Commenting on this growing trend, Blockstream CEO Adam Beck opined that the Bitcoin Treasury trend has become the new altcoin season for cryptocurrency speculators. He noted, “It’s time to put ALTs into BTC or BTC treasuries.”
Earlier, Beck predicted that institutional and government adoption could open a $200 trillion market opportunity for $BTC .
He believes that bitcoin treasury firms are positioning themselves ahead of a potential hyper-bitcoinization, where the adoption of bitcoin as a global currency could overtake traditional fiat currencies due to its economic benefits.