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.
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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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