Important takeaways
- French semiconductor company 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.
French Bitcoin finance company Sequans Communications moved 970 Bitcoin (BTC) worth about $111 million to Coinbase Prime on October 28, according to data from Arkham Intelligence.
As of October 6, Sequans had 3,234 BTC. After the latest transfer, the Sequans-branded wallet now holds 2,264 BTC, valued at around $255 million.
The Paris-based semiconductor company, backed by the French government, is launched its Bitcoin accumulation strategy in early July, shortly after raising $384 million through a mix of debt and equity placements to fund the initiative.
In August, Sequans announced plans to acquire up to 100,000 BTC to 2030, with 2025 designated as a key year to expand its holdings through public capital raising.
Sequan’s ( SQNS ) shares were up 4.5% at Tuesday’s close, according to Yahoo Finance. The stock has fallen more than 85% from its peak in July of around $54.
