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5G Chipmaker Sequans Joins the Bitcoin Treasury Strategy Rush
Shares of the Paris-based company are higher by 14% in premarket New York action.
Jun 23, 2025, 12:21 p.m.
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What to know:
- Sequans (SQNS) is raising $384 million—$195M in equity and $189M in convertible debentures—to launch a bitcoin treasury.
- The company has partnered with Swan Bitcoin and cited strong long-term confidence in bitcoin as a premier asset.
- SQNS shares rose 14% premarket New York trade to $2.21.
Telecommunication company Sequans (NYSE:SQNS) has announced that it will raise $384 million to launch a bitcoin treasury, according to a press release.
The company has agreed to issue and sell $195 million in equity securities and $189 million in convertible secured debentures.
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“Our bitcoin treasury strategy reflects our strong conviction in bitcoin as a premier asset and a compelling long-term investment,” said Georges Karam, CEO of Sequans.
Sequans selected U.S.-based bitcoin-only financial services firm Swan Bitcoin as a partner to assist with its treasury strategy.
SQNS shares are up 14% in pre-market trading, changing hands at $2.21 per share.
The decision to adopt a bitcoin treasury follows in the footsteps of several publicly-listed companies of late, with healthcare, mining and media companies all acquiring bitcoin in recent weeks.
Bitcoin is currently trading at about $101,000, modestly bouncing from its panicky decline over the weekend following the U.S. strikes against Iran.
