It's on! 💥 The move by Sequans is a brutal signal that the Bitcoin craze is not just for casual investors, but that big companies are diving in headfirst.
Hold on! The technology company Sequans Communications just announced a plan that left more than one person speechless: they want to sell shares to raise up to $200 million, and guess what for? To buy more Bitcoin! 🤑.
These people already have over 3,000 BTC, which is about $331 million, but their goal is no small feat. They have set their sights on having 100,000 BTC by 2030. It's a crazy figure that shows they are not playing around.
The CEO, Dr. Georges Karam, says it's to "strengthen the treasury." In other words, they want their money to be worth more and not be eaten up by inflation. The thing is, for current shareholders, this could be a bit bittersweet. Selling more shares dilutes their piece of the pie, but experts say it's a smart move. It's like MicroStrategy's strategy, which has already made Bitcoin the center of its business.
And what does this mean for the price of Bitcoin? 📈
Now, if we look at the technical side, Bitcoin is in a pause after rising to $124,450. Analysts are seeing it holding in a range, as if it’s catching its breath for the next big leap.
If it breaks the barrier of $116,850, the bulls (those who buy) could push it to $120,900 and even surpass its monthly high. But, be careful, if it falls below $110,000, we could see a drop to $108,695 or even lower. 📉
The truth is that the accumulation of Bitcoin by companies and even countries, combined with economic uncertainty, makes many think that BTC has a better chance of rising than falling. The goal of $130,000 doesn’t sound so crazy, and if it reaches it, it would solidify its position as the "digital gold" of the future.
Could Sequans' strategy be the model that other companies will follow to protect their capital? 🤔
