Bitcoin Treasury Sequans Sells $100 Million in BTC to Pay Down Debt

Sequans, a French semiconductor firm, sold 970 Bitcoin from its treasury to reduce its debt, just four months after adopting a digital asset treasury strategy. The company now holds 2,264 BTC worth approximately $228 million, down from 3,234 BTC. This move allowed Sequans to cut its outstanding debt by 50%, from $189 million to $94.5 million. Sequans CEO Georges Karam emphasized that the company's Bitcoin strategy remains unchanged, noting that this sale was a tactical decision to strengthen its financial foundation and open up more strategic initiatives. This approach reflects a broader trend among publicly traded companies, following in the footsteps of MicroStrategy, which has amassed a significant Bitcoin treasury as a means of enhancing shareholder returns. Despite this, some experts caution against the potential risks of integrating cryptocurrencies into corporate strategies, as market volatility may affect stock prices.

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