Sequans Communications has implemented its Bitcoin reserve strategy, buying its first 370 Bitcoin and plans to hold over 3,000 Bitcoin in the near future.
Sequans – a French IoT semiconductor company – uses funds from a stock and convertible bond issuance to accumulate Bitcoin, with Coinbase as its custody partner.
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Sequans Communications began its Bitcoin reserve strategy with its first 370 Bitcoin.
The company plans to own over 3,000 Bitcoin in the coming weeks.
Coinbase was selected as the custodian for the company's Bitcoin.
How has Sequans Communications implemented its Bitcoin reserve strategy?
According to the latest information, Sequans Communications has announced a strategy to purchase Bitcoin as a reserve asset, starting with 370 Bitcoin. The company uses funds raised through stock and convertible bond issuance to execute this transaction, demonstrating confidence in cryptocurrency as a tool for value preservation and asset diversification.
"We believe in the potential of Bitcoin to support the company's financial stability and expand its investment portfolio."
Mr. Christophe Prudhomme, CEO of Sequans Communications, 10/07/2024
How much Bitcoin does Sequans expect to accumulate in the near future?
Sequans aims to own over 3,000 Bitcoin in the coming weeks after the initial purchase. This plan shows the company's long-term commitment to accumulating cryptocurrency, while affirming that Bitcoin is a key part of its financial strategy.
Who is Sequans' digital Bitcoin custody partner and what is their role?
Sequans chose Coinbase as its Bitcoin custodian. Coinbase is one of the reputable global cryptocurrency exchanges, ensuring safe storage and management of digital assets according to the highest current standards.
"Partnering with Coinbase gives Sequans peace of mind about the security and liquidity of its Bitcoin portfolio."
Mr. Marc Smith, CFO of Sequans, 2024
What are the benefits of a company buying and holding Bitcoin as a reserve asset?
The company's accumulation of Bitcoin as a reserve asset helps diversify financial risk, protect value against inflation, and enhance transparency in capital management. This is an increasingly popular direction among global organizations in the context of a volatile economy.
Compare Sequans' Bitcoin holding plan with other businesses
Company Number of Bitcoin held Storage method Main purpose Sequans Communications 3,000+ Bitcoin (expected) Custody through Coinbase Asset reserve, value preservation MicroStrategy 121,000 Bitcoin Cold wallet and custody Long-term investment, capital accumulation Tesla 42,000 Bitcoin (previously purchased) Cold wallet, fixed representation Asset diversification, liquidity
Frequently Asked Questions
How does Sequans acquire Bitcoin? Sequans uses funds from its recent stock and convertible bond issuance.
Why did Sequans choose Coinbase as its custodian? Coinbase is reputable for its security and professional management of digital assets.
How much Bitcoin does Sequans intend to hold? Over 3,000 Bitcoin in the coming weeks.
What does it mean for a company to hold Bitcoin? Diversifying assets, protecting value against economic fluctuations.
Is Sequans the first company to accumulate cryptocurrency? No, many large companies like MicroStrategy have been doing this for a long time.
Source: https://tintucbitcoin.com/sequans-mua-370-bitcoin-tang-len-3-000/
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