Chip manufacturer Sequans Communications has joined the ranks of companies adopting Bitcoin as a reserve asset. The firm is preparing to raise $384 million through equity and bond issuance to finance strategic BTC investments.
Sequans, which develops semiconductor and module solutions for the Internet of Things (IoT), is joining the rising trend of institutional Bitcoin adoption with this step. The company aims to raise funds from the market by issuing $189 million in convertible bonds along with approximately $195 million in equity. To manage the process, they collaborated with Swan Bitcoin, which provides Bitcoin-focused corporate finance services.
Sequans CEO Georges Karam emphasized that this decision reflects the company's strong belief in Bitcoin, stating:
“Our Bitcoin treasury strategy reflects our deep confidence that this asset will continue to dominate and gain value in the long run.”
Rapid Rise in Institutional Bitcoin Adoption
Sequans' move is a continuation of the rapidly increasing institutional BTC investments in recent times. For example:
Nakamoto Holdings recently secured $51.5 million in new capital for BTC purchases.
Metaplanet, on the other hand, has increased its total Bitcoin count by purchasing 1,111 more BTC, bringing it just a few hundred coins behind Tesla.
The inclusion of Bitcoin in institutional portfolios has also been noted as a significant development by Blockstream CEO Adam Back. In a statement made via X (formerly Twitter), he indicated that this trend has initiated a new "Bitcoin season":
“It is now time to sell altcoins and switch to BTC or BTC-focused treasuries.”
According to data from the data platform BitcoinTreasuries.NET, as of the end of June, approximately 240 companies hold Bitcoin on their balance sheets. This represents nearly a doubling compared to a few weeks ago. These companies control about 4% of the total Bitcoin supply.
Risks and Concerns of Institutional Bitcoin Investments
Despite this, technology giants like Amazon, Meta, and Microsoft are still hesitant to add BTC to their reserves. Among the main reasons:
High price volatility
Regulatory uncertainty
Increased shareholder risks are included.
While corporate treasuries generally aim to preserve capital, it can be challenging to maintain this balance with a volatile asset like Bitcoin.
Nevertheless, companies like MicroStrategy are quite bold in this area. Led by founder Michael Saylor, the firm currently holds 592,345 BTC, making it the largest corporate Bitcoin holder in the world. The total value of this portfolio is approximately $60.2 billion. MicroStrategy continues to make aggressive BTC purchases, typically funding them through convertible bonds.
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