Highlights:
French semiconductor and cellular IoT chip solutions company, Sequans, has announced a new plan to raise $200 million through an at-the-market (ATM) equity program for its Bitcoin treasury strategy. The initiative aligns with the company’s long-term goal of acquiring 100,000 BTC by 2030.
Sequans filed the fundraising program with the United States Securities and Exchange Commission (SEC), which allows it to sell up to $200 million worth of shares, capitalising on favourable market conditions. Unlike a one-off fundraising, the French firm plans to issue its shares gradually over time.
The company stated:
Dr. Georges Karam, Sequans Chief Executive Officer (CEO), emphasised that the fundraiser is strictly for the company’s Bitcoin treasury strategy. Hence, all proceeds from the program will be used to purchase more BTC, increasing Sequans’ BTC holdings per share and creating long-term value for its investors.
The CEO stated:
On June 23, 2025, Sequans announced a $384 million fundraiser for its Bitcoin treasury. This move positioned it among a growing trend of public companies with BTC as a core asset. On the Bitcoin Treasury Net platform, the semiconductor company ranks twenty-fourth and owns 3,170 BTC worth $349 million with a $137 million market cap.
Germany’s Bitcoin Group SE is Europe’s largest corporate holder of BTC with 12,387 tokens. Sequans follows closely in the second spot and could overtake the German firm if it remains consistent in its Bitcoin investments. Meanwhile, the number of companies that own Bitcoin as a core treasury asset has risen from just over 100 in January 2025 to 174. This shows that many firms now recognise Bitcoin as a sustainable asset class with good reward potential.
At the time of writing, CoinGecko data revealed that Bitcoin is down 1.8% in the past 24 hours, trading at $109,900, with price extremes fluctuating between $109,214 and $112,815.
Source: CoinGecko
Despite BTC’s concerning price dip, companies and whale investors’ interests in the token remain strong. In one of its most recent tweets, on-chain crypto transactions tracker, Lookonchain reported that a whale bought 455 BTC for $50.75 million. Since July 18, this investor has accumulated 2,419 BTC for $280.87 million at an average of $116,104 per BTC. Following BTC’s current price struggle, the whale investor now sits on a $16 million unrealised loss.
On August 25, Metaplanet and Strategy expanded their BTC portfolio with fresh acquisitions. Both companies secured a combined 3,184 BTC worth $368.6 million. Strategy bought 3,081 tokens, increasing its holdings to 632,457 BTC, valued at approximately $46.5 billion. Metaplanet purchased 103 tokens and now owns 18,991 BTC worth $1.95 billion.

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