1 week ago
Telecommunication institution Sequans (NYSE:SQNS) has announced that it volition rise $384 cardinal to motorboat a bitcoin treasury, according to a press release.
The institution has agreed to contented and merchantability $195 cardinal successful equity securities and $189 cardinal successful convertible secured debentures.
“Our bitcoin treasury strategy reflects our beardown condemnation successful bitcoin arsenic a premier plus and a compelling semipermanent investment,” said Georges Karam, CEO of Sequans.
Sequans selected U.S.-based bitcoin-only fiscal services steadfast Swan Bitcoin arsenic a spouse to assistance with its treasury strategy.
SQNS shares are up 14% successful pre-market trading, changing hands astatine $2.21 per share.
The determination to follow a bitcoin treasury follows successful the footsteps of respective publicly-listed companies of late, with healthcare, mining and media companies each acquiring bitcoin successful caller weeks.
Bitcoin is presently trading astatine astir $101,000, modestly bouncing from its panicky diminution implicit the play pursuing the U.S. strikes against Iran.
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