What to know:
- Sequans acquired 370 BTC initially and aims to accumulate over 3,000 BTC in the coming weeks as part of its strategic bitcoin reserve plan. Hold onto your hats! 🎩
- “This initiative reflects our confidence in bitcoin as a long-term store of value for our shareholders,” said CEO Georges Karam, presumably while sipping something very expensive. 🥂
- Coinbase Prime will serve as Sequans’ crypto custodian. Because who else would you trust with all that shiny crypto? 🤔
Sequans Communications (SQNS), the company that makes cellular semiconductors (because, why not?), has decided to jump headfirst into the world of Bitcoin. They’ve acquired a measly 370 BTC to kickstart their newly launched bitcoin treasury strategy. We can only assume they’re just getting warmed up. 🔥
They funded this rather daring purchase with proceeds from a recent equity and convertible debenture offering that wrapped up on July 7th. Talk about making your money work for you! 💰
“We are excited to begin executing our strategic plan to accumulate over 3,000 BTC in the coming weeks,” said Georges Karam, CEO of Sequans. Translation: Get ready for a wild ride. Hold your phones, people! 📱💥
Sequans has chosen Coinbase as its custodian, using Coinbase Prime’s institutional-grade services. Because, well, if you’re going to store thousands of BTC, you might as well do it with the pros. 💼
Sequans Communications shares are up 2% in pre-market trading after this thrilling announcement. Looks like the market is buying what they’re selling. 📈
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2025-07-10 16:46