Sequans’ Bitcoin treasury plan has been officially filed with the SEC, as the French chipmaker moves to raise up to $200 million through its Sequans ATM equity program. The company actually plans to use these proceeds primarily for Bitcoin purchases, and they’re targeting a Bitcoin corporate reserves strategy that aims for 100,000 BTC by 2030, though the move also carries some shareholder dilution Bitcoin risks along with it.

Sequans ATM Equity Program Aims for 100K BTC Despite Risks

The Sequans Bitcoin treasury plan enables the Paris-based semiconductor firm to actually issue American Depositary Shares at its discretion. Sequans already holds more than 3,000 Bitcoin right now, valued at roughly $331 million, and this makes it one of Europe’s largest corporate Bitcoin holders behind Germany’s Bitcoin Group SE.

CEO Dr. Georges Karam stated:

“to use it judiciously to optimize treasury”

Official SEC Form F-3 registration document
Official SEC Form F-3 registration document – Source: SEC.gov

Sequans ATM equity programme will complement some of the existing financing of S189 million of secured convertible debentures and warrants to reach a total recent financing of around S376 million. This Bitcoin corporate reserves strategy positions shareholders for leveraged Bitcoin exposure while they accept dilution risks.

Also Read: Bitcoin Hits 1.7% of Global Money Supply Amid Fed Rate Cut

Market Impact and Risk Assessment

Dan Dadybayo, research and strategy lead at Unstoppable Wallet, had this to say:

“Equity-funded BTC purchases act less like speculative punts and more like leveraged exposure: shareholders accept dilution in exchange for long-term alignment with Bitcoin’s growth”

The analyst also noted regarding execution challenges:

“whether the company can maintain operational discipline and avoid overextension during downturns”

Dadybayo emphasized that the Sequans 100000 BTC target actually faces some unique challenges:

“smaller firms can innovate using structured financing, options strategies, or BTC-backed deals to accumulate effectively. The model is not copy-paste, but scalable if tailored”

However, he also covered the company’s limitations and said that:

“the financial cushion to absorb prolonged drawdowns without shareholder pain”

Sequans Communications registration filing paperwork
Sequans Communications registration filing paperwork – Source: SEC.gov

Also Read: Trump’s Crypto Advisor: Bitcoin Won’t Face Bear Market For Years

The Sequans Bitcoin treasury plan represents a calculated approach to cryptocurrency treasury management right now, with the Sequans ATM equity program providing flexibility for opportunistic purchases while maintaining operational discipline.

  • bitcoin
  • btc
  • treasury