Publicly Listed Company Sequans Acquires 370 BTC for the First Time, Plans to Accumulate Over 3,000 BTC in the Coming Weeks

According to ChainCatcher, as reported by Newsfilecorp, Sequans Communications (NYSE: SQNS) has announced the launch of its Bitcoin reserve strategy, making its first purchase of 370 Bitcoins.

The IoT semiconductor supplier plans to accumulate over 3,000 BTC in the coming weeks, with funds for this purchase sourced from the proceeds of its common stock and convertible bond issuance completed on July 7.

Sequans has selected a certain exchange's Prime platform as its digital asset custody provider, offering secure and compliant infrastructure support. Sequans CEO Georges Karam stated, "This move reflects our confidence in Bitcoin as a long-term store of value."