November 14 2025
French chip manufacturer Sequans recently launched 970 Bitcoin Sequans, which began acquiring Bitcoin in July, has reduced its total holdings from 3.234 to 2.264 Bitcoin, a total value of approximately $228 million.
The recent sale allowed Sequans to reduce its outstanding debt by a substantial 50%, from $189 million to $94,5 million. Despite this, Sequans' share price fell 16,6% on the stock exchange. This raises questions about the sustainability of their crypto strategy in light of such market fluctuations.
CEO Georges Karam emphasized that the strategy regarding their Bitcoin position remains unchanged. However, the decision to sell Bitcoin was a tactical move aimed at unlocking shareholder value in the current market scenario. According to Karam, this step not only strengthens the company's financial foundation but also offers the opportunity to develop strategic initiatives and further develop the Bitcoin holding as a long-term reserve.
This isn't an isolated incident; more than 200 publicly traded companies worldwide are taking a similar approach, inspired by Strategy (formerly MicroStrategy). This company has shifted its focus from software development to buying Bitcoin since August 2020, in an effort to generate better shareholder returns amid a stagnant share price.
Strategy has now invested approximately $47,4 billion in Bitcoin and is the largest institutional holder of this cryptocurrency, with a total holding of 641.205 BTC, currently worth approximately $64 billion at the current price of around $100.000 per Bitcoin. This allows investors to gain exposure to Bitcoin without purchasing and holding digital assets themselves.
However, the popularity of digital assets comes with inherent risks. Several experts have warned that this strategy isn't suitable for every company. The share prices of several companies that have acquired Bitcoin and other digital assets have, in many cases, fallen. This raises the question of whether the volatility of the crypto market is compatible with the business models of traditional companies.
Despite Strategy's impressive profits—recently reaching $2,8 billion in its third-quarter results—analysts are highlighting the declining multiple to net assets (mNAV) at which the company's shares are trading. Another recent event of note is the suspension of trading in QMMM Holdings by the U.S. Securities and Exchange Commission. This occurred after a suspicious surge of over 2.100% in its share price following the company's announcement that it was trading Bitcoin, Ethereum, and Solana to buy.
In a recent forecast, 95% of respondents in a Myriad prediction market said they believe Strategy will not sell any Bitcoin before the end of the year. This consensus reflects the continued confidence some investors have in Bitcoin's potential as a valuable asset, despite the risk-free and dynamic environment in which companies currently find themselves.
Why did Sequans sell Bitcoin despite their strategic focus on digital assets?
Sequans has sold Bitcoin to reduce its debt load by 50% and strengthen the company's financial stability, enabling it to pursue more strategic initiatives.
How does Sequans' sale of Bitcoin affect its stock price?
Sequans' share price fell 16,6% after the sale, raising questions about investor confidence in its ability to successfully navigate the risks associated with digital assets.
What are the broader implications of digital asset treasuries for companies?
While some companies may find benefits from holding digital assets, there is significant risk of volatility, and it may not be appropriate for some companies to pursue such strategies.
Bitcoin (BTC)
Ethereum (ETH)
XRP (XRP)
