French company Sequans to buy 100,000 bitcoins by 2030
French company Sequans Communications has filed for a $200 million IPO to pursue an aggressive Bitcoin accumulation strategy. The company plans to accumulate 100,000 bitcoins by 2030.
The maker of chips for 4G and 5G networks plans to issue American depositary receipts – dollar-denominated shares of a foreign company that are traded on U.S. exchanges, according to documents filed with the Securities and Exchange Commission (SEC) on Monday.
“We intend to use these funds wisely to optimize our reserves, increase Bitcoin per share and create long-term value for shareholders,” said Sequans CEO Georges Karam.
According to BitBo, the Paris-based company already holds 3,171 bitcoins worth $349 million. This makes it the second-largest bitcoin holder in Europe after Germany's Bitcoin Group SE, which holds 12,387 BTC.
Joining the corporate accumulation trend
Sequans announced plans to use Bitcoin as its primary reserve asset on June 23, joining a growing trend of public companies adopting the cryptocurrency as an inflation hedge and store of value.
The number of public companies holding bitcoin has grown to 174 from less than 100 in early 2025.
Sequans noted that the timing and size of the share sales under the new program will depend on market conditions and other factors. The net proceeds from the offering will be “primarily used to continue accumulating bitcoin in accordance with the company’s strategy.”
Potential increase in reserves to 5,000 BTC
At current market prices, $200 million would buy another 1,814 BTC, bringing Sequans' total Bitcoin holdings to nearly 5,000 BTC, roughly the same amount held by Semler Scientific.
Sequans shares closed Monday at $0.96, down 6.8% on the day. They were up 0.41% in after-hours trading.
Corporate adoption of Bitcoin has slowed as a growing number of companies have chosen to accumulate Ethereum. BitMine Immersio holds the second-largest wallet at $7.5 billion in ETH.
SharpLink and The Ether Machine round out the top three companies holding Ethereum with $3.24 billion and $1.51 billion, respectively, according to StrategicETHReserve.xyz.
The adoption of Ethereum as a reserve asset has helped the price of ETH surge 198% since April 9, allowing the cryptocurrency to narrow the gap with Bitcoin in the current bull cycle.
Source: cryptonews.net
