French semiconductor company Sequans Communications has announced a $200 million capital raising to expand its Bitcoin treasury. The company aims to accumulate 100,000 Bitcoins by 2030.
Stock Sale to Drive Bitcoin Accumulation
Sequans confirmed it would sell American Depositary Shares (ADS) in U.S. markets under the equity program. These shares, denominated in U.S. dollars, will be issued at the company's discretion depending on market conditions. The chipmaker emphasized that proceeds will primarily support its Bitcoin treasury strategy.
Company's Treasury Strategy Expansion
The company's long-term goal is to amass 100,000 BTC by the end of this decade. With $200 million in new capital, Sequans could purchase an estimated 1,814 more BTC at current prices, raising its total to nearly 5,000 BTC. This positioning could see the company among the top ten corporate holders of Bitcoin globally.
Competition with Ethereum in Corporate Portfolios
While Bitcoin remains dominant, Ethereum is gaining traction in corporate portfolios. ETH-focused firms like BitMine Immersion Technologies now hold significant assets. However, Sequans continues to prioritize BTC accumulation as a long-term asset.
Sequans Communications has launched a $200 million stock offering to fund its strategy for increasing its Bitcoin treasury. The company aims to grow from 3,171 BTC to potentially 100,000 BTC by 2030, reflecting the rising number of public companies utilizing Bitcoin as a strategic asset.
