Sequans Communications, developer of semiconductors and IoT modules, has disclosed plans for a capital increase of $ 384 million to finance its Bitcoin strategic treasure. This decision comes while more and more companies are betting on Bitcoin (BTC) and use the largest cryptocurrency in the world as a reserve asset.
According to the company, it plans to issue and sell about $ 195 million in equity and $ 189 million in convertible devers, which can then be converted into shares. For Endeavor, Sequans joins Swan Bitcoin, a BTC cash management supplier.
“Our Bitcoin cash strategy reflects our strong Bitcoin condemnation as a leading actor and a long -term convincing investment,” said Georges Karam, CEO of Sequans, in a press release.
Sequans is part of the growing trend of companies adding bitcoin to their treasury bills. On Saturday, Nakamoto Holdings raised $ 51.5 million in fresh capital to increase its Bitcoin stock. Monday, Metaplanet announced the addition of 1,111 BTC to its treasure, bringing its outfit to around 400 timid Tesla.
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Adam Back, CEO of Blockstream and Early Cypherpunk, wrote on X that companies creating Bitcoin vouchers have given birth to a new type of season. “It’s time to throw alts in BTC or BTC vouchers,” he said.
According to BitcoinTareries.net, around 240 companies hold BTC on their balance sheets on Monday, which is up almost 100% compared to only weeks ago. Together, these companies control approximately 4% of the total Bitcoin supply.
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Risks of the Treasury of the BTC of corporate
Despite an increasing interest, several large companies, including Amazon, Meta and Microsoft, have chosen not to add bitcoin to their treasury bills. Current concerns include the strong volatility of cryptocurrency and continuous regulatory uncertainty. Business treasury bills are generally intended to preserve capital, while the allocation of Bitcoin funds can expose shareholders to significant market speculation.
Michael Saylor’s strategy is still the biggest Bitcoin holder. The company holds 592,345 Bitcoin, worth around 60.2 billion dollars to date. The strategy was aggressive in the purchase of Bitcoin, often emitting large amounts of convertible debts to guarantee cryptocurrency.
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