Sequans Expands Bitcoin Holdings with 34 BTC Purchase

The company invested another $3.8 million to acquire 34 bitcoins, bringing its total net investment to $374 million and reinforcing its strategy of using Bitcoin as its primary corporate reserve asset.

BTC

Summary

Sequans Communications purchased an additional 34 bitcoins for approximately $3.8 million, bringing its total holdings to 3,205 BTC. The company's net investment in the cryptocurrency is now around $374 million, and it has reaffirmed its commitment to using Bitcoin as its primary reserve asset.

Terms & Concepts
  • BTC (Bitcoin): The first decentralized digital currency, operating on a peer-to-peer network without the need for intermediaries like banks.
  • Primary Reserve Asset: A primary asset held by a company or central bank in its reserves to store value over the long term. Companies like Sequans are increasingly using Bitcoin for this purpose.