Sequans Communications ended its Bitcoin treasury strategy after BTC fell more than 30% from 2025 highs.
Bitcoin News
French semiconductor company Sequans Communications announced on May 28 that it is ending the Bitcoin (BTC) treasury strategy it launched in June 2025. The company said it will concentrate fully on growing its Internet of Things (IoT) semiconductor business. The announcement was made in an official notice published the same day.
Sequans said it currently holds 658 BTC, valued at approximately $48 million at the time of the announcement. The company described those holdings as fully unencumbered and available to sell. It said it plans to monetize the remaining coins over time.
The company also confirmed it has fully redeemed all convertible debt issued in July 2025. That debt was paid down using proceeds from the earlier partial sale of its BTC holdings. Chief Executive Georges Karam said the company is "fully focused on scaling its IoT semiconductor business" and made no mention of future crypto investments.
Bitcoin Fell 30% Since Sequans Bought In
When Sequans first announced its digital asset strategy in June 2025, Karam described Bitcoin as "a premier asset and a compelling long-term investment." The company raised $384 million at the time through the sale of equity securities and convertible secured debentures. Since that announcement, BTC has fallen more than 30%, dropping from $105,419 to $72,780.
Sequans' NYSE-listed shares had lost more than 75% of their value since June 2025. On May 28, 2026, following the announcement, shares rose more than 14.5% in morning trading. Markets appeared to respond positively to the company's decision to close out its crypto treasury position.
The exit reduces the number of publicly traded European companies holding Bitcoin to 40, according to Bitcoin Treasuries data. The same database lists 67 publicly traded US companies with active BTC holdings. Strategy remains the largest, last announcing a $2 billion BTC purchase on May 18, bringing its total holdings to 843,738 BTC.
Another France-based #BitcoinTreasury company, Capital B, moved in the opposite direction last week. It purchased more than $15 million worth of BTC, raising its total holdings to 3,135 BTC. Bitcoin Treasuries ranked Capital B as the 25th-largest BTC treasury globally, behind Germany's Bitcoin Group SE. The company's stock has declined more than 16% since that purchase was announced.
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