Summary
- Sequans Communications reportedly sold 970 Bitcoin to repay half of its convertible bond debt.
- After this sale, Bitcoin holdings decreased to 2264, but the CEO said he will continue the long-term Bitcoin investment strategy.
- Sequans' move is seen as a strategy to secure cash liquidity and strengthen financial soundness.
Nasdaq-listed semiconductor company Sequans Communications sold Bitcoin (BTC) to repay half of its convertible bond debt.
On the 4th (local time), crypto asset media CoinDesk reported that Sequans sold 970 BTC it held to secure approximately $94.5 million, and with this repaid half of its total $189 million convertible bonds.
After this sale, Sequans' Bitcoin holdings decreased to 2264. However, Georges Karam, Chief Executive Officer (CEO), said, "There is no change to the long-term Bitcoin investment strategy," and added, "We will continue the digital asset holding policy while securing financial soundness."
Sequans included Bitcoin as a strategic asset from 2023 to diversify its corporate financial portfolio, and has since liquidated some holdings depending on market conditions. Industry observers view this move as part of a "cash liquidity securing strategy" to improve the company's financial structure.
JH Kim
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