IoT Developer Sequans to Raise $384M for Bitcoin Treasury
Sequans Communications plans to raise $384 million to fund a Bitcoin treasury, issuing approximately $195 million in equity and $189 million in convertible debentures. The company is partnering with Swan Bitcoin for treasury management. Sequans' strategy reflects confidence in Bitcoin as a long-term investment. Other companies, like Nakamoto Holdings and Metaplanet, are also increasing their Bitcoin holdings. Approximately 240 companies now hold Bitcoin, controlling about 4% of the total supply. However, major firms like Amazon, Meta, and Microsoft have refrained from adding Bitcoin due to concerns over volatility and regulatory issues. Michael Saylor's company remains the largest corporate holder of Bitcoin, with 592,345 BTC valued at around $60.2 billion.
