French semiconductor company Sequans Communications filed for capital provision in the $200 million market on Monday to promote Bitcoin’s financial strategy with the long-term goal of accumulating 100,000 Bitcoin by 2030.
The program allows 4G and 5G chip makers to issue US depositary stocks (subjects controlled by the US dollars of foreign companies trading on US stock exchanges).
“We intend to use it carefully to optimize the Treasury Department, increase Bitcoin per share and provide long-term value to shareholders,” Sequans CEO Georges Karam said in a statement.
Bitcoin Treasury data from Bitcoin Ministry shows that the Paris-based company currently holds 3,171 Bitcoin (BTC) on its balance sheet at $349 million, making it the second largest Bitcoin Ministry in Europe, after Germany’s Bitcoin Group SE, which owns 12,387 BTC.
Sequans first announced plans to use Bitcoin as a core asset on June 23, and to adopt it as an inflation hedge and valued storage for the growing trend of public companies employing cryptocurrency. Previously, he said he is striving to collect 100,000 Bitcoin by 2030.
The number of public companies holding Bitcoin has risen to 174 from under 100 at the start of 2025.
Span was notched to 5,000 bitcoins in revenue
The semiconductor company said the timing and volume of share sales under the stock program will be made at the company’s discretion, determined by market conditions and other factors.
The net revenue from the offering is expected to be “used primarily to continue accumulating Bitcoin in align with the company’s financial strategy.”
At current market prices, $200 million could purchase an additional 1,814 BTC span, bringing the total Bitcoin stash to nearly 5,000 BTC. This is roughly the same amount as Semler Scientific currently has.
Sequans closed Monday’s trading at $0.96, down 6.8% on the trading day. After that, it increased by 0.41% in trading after hours.
Bitcoin finance company buys dip
The $200 million share offer comes in a Bitcoin pullback, which goes from the $124,517 high set on August 14th to $110,045.
The strategy, the biggest corporate Bitcoin holder, scooped up another 3,081 bitcoins on Monday – totaling 632,457 BTC – Metaplanet started the week with a purchase of 103 BTC
ETH Finance Company Steals the Spotlight
With the rise of ether (ETH) financing companies, recruiting companies has been slowing recently as Bitmine Immersion Technologies (originally Bitcoin Mining Company) became a company of the ETH Ministry of Finance.
Related: When price drops to $112,000, the strategy buys $357 million in bitcoin
According to StrategicEthreserve.xyz, Sharplink and Ether Machine conclude the top three Eth Treasury Company Holdings with holdings of $3.24 billion and $1.51 billion respectively.
ETH Treasury Adoption has contributed to ETH’s 198% price rally since April 9th, losing bitcoin distance from early in the current bull cycle.
Magazine: Bitcoin’s long-term security budget issues: an imminent crisis or FUD?
