{"id":48655,"date":"2025-11-04T12:57:29","date_gmt":"2025-11-04T17:57:29","guid":{"rendered":"https:\/\/bitcoinmagazine.com\/?p=48655"},"modified":"2025-11-04T12:58:04","modified_gmt":"2025-11-04T17:58:04","slug":"sequans-sells-970-bitcoin-to-cut-debt","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/business\/sequans-sells-970-bitcoin-to-cut-debt","title":{"rendered":"Sequans Sells 970 Bitcoin to Slash Debt, Bitcoin Price Slumps to $101,000\u00a0"},"content":{"rendered":"
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Sequans Communications S.A. (NYSE: SQNS) sold<\/a> 970 Bitcoin to redeem 50% of its July convertible debt. The move reduced total debt from $189 million to $94.5 million.<\/p>\n\n\n\n

The company\u2019s Bitcoin treasury now stands at 2,264 BTC, worth about $240 million. This lowers Sequans\u2019 debt-to-net-asset-value ratio from 55% to 39%. The sale frees up capital and boosts flexibility for the company\u2019s ADS buyback program.<\/p>\n\n\n\n

Sequans is the first publicly listed Bitcoin treasury company to offload a significant portion of its holdings. The transaction does not change the company\u2019s long-term Bitcoin strategy<\/a>, the company said. <\/p>\n\n\n\n

The Paris-based IoT semiconductor provider will continue to pursue its Bitcoin treasury initiative while exploring capital markets opportunities. These include potential preferred-share issuance and yield generation on portions of its remaining Bitcoin.<\/p>\n\n\n\n

Sequans\u2019 stock traded near $6.25, down 13% after the announcement. Year-to-date, shares are down 82%. <\/p>\n\n\n\n

The company maintains a current ratio of 1.83 and reported $8.1 million in Q2 revenue, with a net loss of $9.1 million. The debt reduction removes covenant constraints and provides additional strategic flexibility for its Bitcoin treasury management.<\/p>\n\n\n\n

This move was slightly expected as analysts\u00a0flagged the transfer<\/a>\u00a0last week after a wallet linked to Sequans moved bitcoin to a Coinbase address.<\/p>\n\n\n\n

Back in July, the company announced<\/a> that it had moved into Bitcoin through a treasury initiative backed by a $384 million private placement. The funding included $195 million in equity securities and $189 million in convertible secured notes. <\/p>\n\n\n\n

Sequans planned to use this capital to build a Bitcoin position alongside its core IoT operations. <\/p>\n\n\n\n

Bitcoin price slumps<\/h2>\n\n\n\n

Sequan\u2019 sale comes as bitcoin continues to slide<\/a> due to economic factors. Bitcoin\u2019s price has slumped below $101,000, down from its early October all-time high above $126,000.<\/p>\n\n\n\n

The decline has been driven by heavy outflows from crypto ETFs, with spot Bitcoin ETFs losing $1.3 billion and spot Ether ETFs nearly $500 million since October 29. <\/p>\n\n\n\n

Technical factors added pressure, as Bitcoin briefly fell below its 200-day moving average, a key gauge of long-term momentum. Renewed strength in the U.S. dollar<\/a> and lingering market fear following October\u2019s \u201ccrypto Black Friday\u201d liquidation event have further suppressed buying interest.<\/p>\n\n\n\n

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JUST IN: #Bitcoin<\/a> dips to $101,759 \ud83d\udc40

BUY \ud83d\udc4f THE \ud83d\udc4f DIP \ud83d\udc4f pic.twitter.com\/42T1vXgO3f<\/a><\/p>— Bitcoin Magazine (@BitcoinMagazine) November 4, 2025<\/a><\/blockquote>