Why is Sequans ending its Bitcoin treasury strategy?

Sequans Communications said it is abandoning its Bitcoin treasury strategy to focus entirely on growing its Internet of Things (IoT) semiconductor business. Management stated that expanding its core operations is now the company's primary objective.

How much Bitcoin does Sequans still own?

Sequans currently holds 658 Bitcoin worth approximately $48 million. The company said the holdings are unrestricted and will be monetised gradually over time.

When did Sequans adopt its Bitcoin treasury strategy?

Sequans launched its Bitcoin treasury strategy in June 2025. At the time, management described Bitcoin as a compelling long-term investment and raised capital to support the initiative.

Why is the decision significant for corporate Bitcoin adoption?

The move highlights the risks companies face when using Bitcoin as a treasury asset. It contrasts with firms that continue accumulating Bitcoin and demonstrates that not every corporate treasury strategy delivers the intended results.

How has Bitcoin performed since Sequans adopted the strategy?

According to the company, Bitcoin has fallen more than 30% since the strategy began, declining from approximately $105,419 to $72,780. The decline reduced the value of the company's crypto holdings and likely influenced its strategic reassessment.

How have Sequans shares performed during this period?

Sequans shares have fallen more than 75% since the company announced its Bitcoin treasury strategy. While the stock decline cannot be attributed solely to Bitcoin, investors may view the overall performance as disappointing.

Did Sequans use debt to fund its Bitcoin purchases?

Yes. The company previously raised approximately $384 million through equity securities and convertible debt to support its Bitcoin treasury strategy. It has since redeemed the convertible debt and partially liquidated Bitcoin holdings to do so.

What does this mean for other European Bitcoin treasury companies?

The decision reduces the number of publicly traded European companies using Bitcoin as a treasury reserve asset. However, other firms continue to expand their holdings despite recent market volatility.

Image for illustrative purposes only. Not a real photo.

Sequans ends Bitcoin treasury strategy

Written by Brie CarterPublished May 29, 2026, 2:20 AM

French semiconductor company Sequans Communications has abandoned its Bitcoin treasury strategy and plans to gradually liquidate its remaining cryptocurrency holdings.

The company disclosed that it still holds 658 Bitcoin valued at approximately $48 million and said the assets are unrestricted as it monetises the position over time.

Sequans said it is no longer pursuing the digital asset treasury strategy launched in June 2025 and will instead focus exclusively on expanding its Internet of Things semiconductor business.

“We are fully focused on scaling our IoT semiconductor business,”

Said Chief Executive Officer, Georges Karam.

The company previously raised $384 million through equity securities and convertible debt to support its Bitcoin strategy, with management at the time describing Bitcoin as a compelling long-term investment.

Since the strategy was introduced, Bitcoin has fallen by more than 30%, declining from about $105,419 to $72,780, while Sequans shares have lost more than 75% of their value over the same period.

The move reduces the number of publicly traded European companies holding Bitcoin as a treasury asset and highlights the challenges some firms face when integrating cryptocurrency into corporate balance sheet strategies during periods of market volatility.

At the time of reporting, Bitcoin price was $73,471.41