Key highlights:
- Sequans to raise $200M to aggressively buy Bitcoin
- Targeting 100,000 BTC holdings by 2030
- Already owns $349M in Bitcoin, second-largest in Europe
Sequans aims for 100,000 Bitcoin with $200M stock offering
French semiconductor firm Sequans Communications (SQNS) has filed to raise $200 million through an American depositary receipt (ADR) issuance. The capital will fund an aggressive Bitcoin accumulation plan targeting 100,000 BTC by 2030.
Today, we announced a new “At The Market” equity program to support our long-term Bitcoin treasury strategy. $SQNS
🔗 Learn more: https://t.co/1zEPHOjNy1 pic.twitter.com/gcW62ZMCQQ
— Sequans (@Sequans) August 25, 2025
The company, which designs chips for 4G and 5G networks, said in SEC filings that it will use proceeds primarily to grow its Bitcoin holdings. CEO Georges Karam stated:
“We intend to use it judiciously to optimize our treasury, increase Bitcoin per share, and deliver long-term value to shareholders.”
Sequans currently holds 3,171 BTC worth approximately $349 million, making it the second-largest Bitcoin holder in Europe after Germany’s Bitcoin Group SE (12,387 BTC).
How much Bitcoin does Sequans hold? Source: bitbo
The timing and amount of share sales will depend on market conditions. At current prices, $200 million would purchase around 1,814 BTC, potentially raising Sequans’ total to nearly 5,000 BTC — close to the level of Semler Scientific’s plan.
The company adopted Bitcoin as its primary reserve asset on June 23, joining a growing wave of public companies using BTC as an inflation hedge. As of August 2025, the number of public firms holding Bitcoin has increased to 174, up from under 100 earlier this year.
Ethereum rises as an alternative reserve asset
While Bitcoin remains the primary focus, corporate interest in Ethereum (ETH) is surging. BitMine Immersion now holds the second-largest corporate ETH position at $7.5 billion.
They are followed by SharpLink and The Ether Machine, with reserves valued at $3.24 billion and $1.53 billion, respectively, per data from StrategicETHReserve.xyz.
Ethereum’s growing role as a treasury asset has contributed to a 198% price surge since April 9, narrowing the performance gap between ETH and BTC in the ongoing bull cycle.
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Source:: Sequans Bets Big on Bitcoin: $200M Stock Offering to Fuel 100,000 BTC Goal