Bitcoin treasury company Sequans moves 970 BTC to Coinbase Prime

Key Takeaways

French semiconductor agency Sequans Communications deposited 970 BTC value $111 million on Coinbase Prime on Tuesday.
The corporate introduced in August its plans to stack as much as 100,000 BTC by 2030.

French Bitcoin treasury firm Sequans Communications moved 970 Bitcoin (BTC) value about $111 million to Coinbase Prime on Oct. 28, in response to information from Arkham Intelligence.

As of Oct. 6, Sequans held 3,234 BTC. Following the most recent switch, the Sequans-labeled pockets now holds 2,264 BTC, valued at roughly $255 million.

The Paris-based semiconductor agency, backed by the French authorities, launched its Bitcoin accumulation technique in early July, shortly after elevating $384 million by means of a mixture of debt and fairness non-public placements to fund the initiative.

In August, Sequans introduced plans to amass as much as 100,000 BTC by 2030, with 2025 designated as a key 12 months for increasing its holdings by means of public capital raises.

Sequans (SQNS) shares rose 4.5% at Tuesday’s shut, in response to Yahoo Finance. The inventory has plunged over 85% from its July peak at round $54.

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