Key Takeaways
French semiconductor firm Sequans Communications deposited 970 BTC worth $111 million on Coinbase Prime on Tuesday.
The company announced in August its plans to stack up to 100,000 BTC by 2030.
Share this article
French Bitcoin treasury company Sequans Communications moved 970 Bitcoin (BTC) worth about $111 million to Coinbase Prime on Oct. 28, according to data from Arkham Intelligence.
As of Oct. 6, Sequans held 3,234 BTC. Following the latest transfer, the Sequans-labeled wallet now holds 2,264 BTC, valued at approximately $255 million.
The Paris-based semiconductor firm, backed by the French government, launched its Bitcoin accumulation strategy in early July, shortly after raising $384 million through a mix of debt and equity private placements to fund the initiative.
In August, Sequans announced plans to acquire up to 100,000 BTC by 2030, with 2025 designated as a key year for expanding its holdings through public capital raises.
Sequans (SQNS) shares rose 4.5% at Tuesday’s close, according to Yahoo Finance. The stock has plunged over 85% from its July peak at around $54.
-1024x683.jpg "Judge Who Helped Violent Illegal Alien Evade ICE Faces New Test")
