Sequans Communications drops Bitcoin strategy, plans to sell entire crypto portfolio
Bitcoin's value has declined over 30% in the 12 months following Sequans Communications' decision to implement a cryptocurrency-based treasury approach.
A French semiconductor firm that previously announced its entry into cryptocurrency has decided to abandon its treasury approach after operating it for under 12 months.
Sequans Communications revealed in an announcement on Thursday that its holdings consisted of 658 Bitcoin (BTC) valued at approximately $48 million based on current market rates, describing these assets as completely "unencumbered" and available without restrictions as the company pivots its attention exclusively toward expanding its Internet of Things (IoT) semiconductor operations.
Following the public announcement, the company's shares trading on the New York Stock Exchange, which have experienced a decline exceeding 75% since June of the previous year, demonstrated an increase of over 14.5% during morning market hours.
The company revealed that it had brought to a close the digital asset treasury approach initiated in June 2025 and would "monetize remaining holdings over time." This strategic pivot occurred after Sequans successfully completed the full redemption of all convertible debt instruments that had been issued in July 2025, utilizing proceeds from the sale of a portion of its BTC portfolio at that juncture.
Company CEO Georges Karam stated that the organization was "fully focused on scaling [its] [Internet of Things] semiconductor business," making no reference to any future intentions regarding cryptocurrency investment expansion.
A year prior, Sequans revealed the completion of a $384 million sale involving equity securities and convertible secured debentures, during which Karam characterized Bitcoin as "a premier asset and a compelling long-term investment" in his statements. From the initiation of its treasury approach until now, Bitcoin's market price has experienced a decline exceeding 30%, dropping from $105,419 down to $72,780.
Capital B shares continue dropping after Bitcoin acquisition
This departure from a cryptocurrency-focused treasury approach brings down the count of publicly listed European corporations with investments in Bitcoin and alternative digital currencies to 40, based on data from the Bitcoin Treasuries website. The platform identifies 67 publicly listed companies based in the United States, including Strategy, which revealed a $2 billion Bitcoin acquisition on May 18, elevating its aggregate holdings to 843,738 BTC.
Capital B, another Bitcoin treasury operation headquartered in France, revealed the previous week that it had acquired over $15 million in BTC, increasing its complete holdings to 3,135 coins. Following this announcement, the company's share price experienced a drop exceeding 16%.
According to information from BitcoinTreasuries, Capital B ranked as the 25th-largest Bitcoin treasury on a worldwide basis, positioned behind Germany's Bitcoin Group SE.