Why Sequans Just Shifted 970 BTC to Coinbase Prime—And What It Means for Crypto Investors Right Now
Ever wonder what it takes for a semiconductor company to leap beyond chips and dive headfirst into the volatile world of Bitcoin? Sequans Communications, a Parisian firm with a state-backed punch, just made waves by moving a staggering 970 BTC—about $111 million—to Coinbase Prime. This bold move isn’t just a random shuffle of digital coins; it’s part of a grander vision started just a few months ago in July, marking the beginning of an ambitious Bitcoin accumulation strategy. With plans to amass up to 100,000 BTC by 2030, Sequans isn’t just playing the game — they’re rewriting the rules. Curious to see how this high-stakes accumulation could reshape both the crypto and tech landscapes? Dive into the details and watch this space closely. LEARN MORE.
The firm kicked off its Bitcoin accumulation initiative in July.
Key Takeaways
- French semiconductor firm Sequans Communications deposited 970 BTC worth $111 million on Coinbase Prime on Tuesday.
- The company announced in August its plans to stack up to 100,000 BTC by 2030.
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French Bitcoin treasury company Sequans Communications moved 970 Bitcoin (BTC) worth about $111 million to Coinbase Prime on Oct. 28, according to data from Arkham Intelligence.
As of Oct. 6, Sequans held 3,234 BTC. Following the latest transfer, the Sequans-labeled wallet now holds 2,264 BTC, valued at approximately $255 million.
The Paris-based semiconductor firm, backed by the French government, launched its Bitcoin accumulation strategy in early July, shortly after raising $384 million through a mix of debt and equity private placements to fund the initiative.
In August, Sequans announced plans to acquire up to 100,000 BTC by 2030, with 2025 designated as a key year for expanding its holdings through public capital raises.
Sequans (SQNS) shares rose 4.5% at Tuesday’s close, according to Yahoo Finance. The stock has plunged over 85% from its July peak at around $54.
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