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.
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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.
