Sequans Communications (SQNS), a number one mobile semiconductor maker, has introduced its acquisition of 370 bitcoin
as a part of a newly launched bitcoin treasury technique.
The acquisition was funded by proceeds from its latest fairness and convertible debenture providing that closed on July 7.
“We’re excited to start executing our strategic plan to build up over 3,000 BTC within the coming weeks,” mentioned Georges Karam, CEO of Sequans. “This initiative displays our confidence in bitcoin as a long-term retailer of worth for our shareholders.”
Sequans has chosen Coinbase as custodian, using Coinbase Prime’s institutional-grade providers.
Sequans Communications shares are up 2% in pre-market buying and selling following the announcement of its bitcoin treasury technique.
