Semiconductor manufacturer Sequans Communications has become the first public Bitcoin-treasury company to liquidate part of its reserve during the current market cooldown, selling nearly 970 BTC to reduce debt. The sale retires 50% of the firm’s $189 million in convertible debt, bringing liabilities down to $94.5 million. The transaction cuts the company’s Bitcoin stash from 3,234 BTC to 2,264 BTC, now valued near $232 million.
Management framed the move as a balance-sheet optimization rather than a strategic pivot. CEO Georges Karam stressed that Sequans remains committed to its Bitcoin treasury thesis, calling the sale a tactical step to unlock shareholder value given current conditions. On-chain analysts spotted the outflow last week when a Sequans-linked wallet sent nearly 1,000 BTC to Coinbase.
The transaction improves the firm’s debt-to-net-asset-value ratio from 55% to 39% and gives the company greater financial flexibility, though the sale marks a contrast to the dominant accumulation trend among Bitcoin-holding corporates.
You need to login in order to Like
Leave a comment