French chipmaker Sequans, which manufactures semiconductors for 4G and 5G, has announced a program aimed at accumulating Bitcoin with a goal of reaching 100,000 BTC by 2030.
Strengthening a Bitcoin Treasury
Sequans already ranks among Europe's largest corporate Bitcoin holders. Currently, the company holds 3,171 BTC, worth approximately $349 million. CEO Georges Karam noted that the new program will be used judiciously to optimize the treasury and increase Bitcoin per share, positioning BTC as a core asset in its balance sheet strategy.
Potential Boost to Holdings
If fully executed, the $200 million sale of American Depositary Shares could fund the purchase of nearly 1,800 additional BTC at current prices, raising Sequans' stash close to 5,000 BTC. This would put it on par with Semler Scientific, another U.S.-listed Bitcoin treasury firm.
Corporate Treasuries Keep Buying the Dip
As Bitcoin trades near $110,000, there is continued growth in demand for digital assets. The world's largest Bitcoin holder added more than 3,000 BTC this week, while Metaplanet picked up another 103 BTC. Ethereum is also gaining popularity among companies, contributing to the overall interest.
This initiative by Sequans highlights the increasing trend among public companies to utilize digital assets in their financial strategies. The number of public companies holding Bitcoin has doubled since January, reaching 174.
