French semiconductor designer Sequans Communications plans to lift about $200 million and allocate the proceeds to purchasing extra Bitcoin for its company treasury, in line with a number of statements by the corporate shared on social media late Monday
French semiconductor designer Sequans Communications plans to lift about $200 million and allocate the proceeds to purchasing extra Bitcoin for its company treasury, in line with a number of statements by the corporate shared on social media late Monday.
Sequans, which is listed in Paris and develops chips for wi-fi broadband gadgets, joins a small however rising group of publicly traded companies which are including the cryptocurrency to their steadiness sheets. The corporate didn’t instantly disclose the construction or timing of the fundraising, nor did it specify the quantity of Bitcoin it intends to buy.
The transfer underscores continued company curiosity in Bitcoin as a reserve asset regardless of latest worth volatility. Sequans mentioned the initiative goals to diversify its money holdings and hedge in opposition to forex depreciation, however it stays topic to board approval and market situations.
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