Sequans Reduces Bitcoin Holdings to Boost Liquidity, Re-affirms Commitment to Asset

Sequans Communications, a French semiconductor firm, took a strategic step by selling 970 Bitcoin, lowering its total holdings from 3,234 BTC to 2,264 BTC. This move is part of a tactical financial adjustment to improve liquidity and reduce debt. The proceeds were used to repay almost half of its outstanding debt, reducing liabilities from $189 million to $94.5 million. Despite selling a portion of its Bitcoin holdings, the company reaffirmed that Bitcoin remains crucial for their long-term financial strategy. This sale is considered a strategic move by Sequans, aiming to optimize its balance sheet and secure future opportunities.