Sequans Communications (SQNS), a leading cellular semiconductor maker, has announced its acquisition of 370 bitcoin BTC as part of a newly launched bitcoin treasury strategy.
The purchase was funded by proceeds from its recent equity and convertible debenture offering that closed on July 7.
“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. “This initiative reflects our confidence in bitcoin as a long-term store of value for our shareholders.”
Sequans has chosen Coinbase as custodian, utilizing Coinbase Prime’s institutional-grade services.
Sequans Communications shares are up 2% in pre-market trading following the announcement of its bitcoin treasury strategy.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
Wallets linked to the U.S. government moved millions in crypto on Tuesday, according to data…
Bitcoin briefly broke under the level analysts flagged as the point where sellers take over.…
Bitcoin Magazine Bitcoin Privacy Legend Amir Taaki Deported From Singapore Crypto-anarchist, former Bitcoin Core contributor…
Bitcoin Magazine Leon Wankum: BTC Taking on Real Estate’s $300T Monetary Premium For generations, property…
Bitcoin Magazine Housingwire’s Logan Mohtashami: Real Estate vs Bitcoin & Bond Market Outlook Mortgage rates…
Bitcoin Magazine $350M St Cloud CEO: The First Credit Union to Put Bitcoin on Core…