Sequans (SQNS) Adopts Bitcoin for Treasury Reserves
This acquisition was funded by Sequans Communications S.A.'s (NYSE:SQNS) recent offering of ordinary shares and convertible debentures.
A macro view of a 5G/4G chips and modules, displaying the cutting edge technology of the company.
According to the CEO, Georges Karam, Sequans Communications S.A. (NYSE:SQNS) plans to strategically accumulate more than 2,000 Bitcoins in the coming weeks. The company sees Bitcoin as a good long-term store of value for its shareholders.
On July 14, Sequans Communications S.A. (NYSE:SQNS) reported it acquired an additional 683 Bitcoins for about $79 million. After this purchase, the company had acquired a total of 1,053 Bitcoins for approximately $120 million.
Sequans Communications S.A. (NYSE:SQNS) is a semiconductor company that specializes in wireless cellular technology for the Internet of Things (IoT). The company has adopted Bitcoin as a primary treasury reserve asset as part of its long-term financial strategy.
While we acknowledge the potential of SQNS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 10 Best American Semiconductor Stocks to Buy Now and 11 Best Fintech Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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