Key facts
- Sequans Communications sold its remaining 314 Bitcoin, completing its exit from a Bitcoin treasury strategy.
- The company previously held over 3,200 BTC.
- The sale of Bitcoin was used to eliminate convertible debt and strengthen Sequans' balance sheet.
- Sequans launched its Bitcoin treasury strategy in June 2025.
- In November 2025, Sequans sold 970 BTC to redeem half its convertible debt.
- By May 2026, Sequans stated it was no longer pursuing its Bitcoin treasury strategy.
Sequans Communications has completed its exit from a Bitcoin treasury strategy by selling its remaining 314 Bitcoin. The semiconductor company's decision, announced on Thursday, follows the redemption of its convertible debt in May and aims to allow Sequans to refocus on its core cellular internet-of-things (IoT) and software-defined radio businesses. CEO Georges Karam stated that the Bitcoin sales were used to eliminate the company's convertible debt and strengthen its balance sheet, leaving Sequans with no cryptocurrency holdings and no outstanding debt beyond government-financed research and development obligations.
Sequans initially launched its Bitcoin treasury strategy in June 2025, coinciding with a $384 million sale of equity securities and convertible secured debentures. At the time, Karam described Bitcoin as "a premier asset and a compelling long-term investment."
However, the company began reducing its holdings less than six months later, selling 970 BTC in November 2025 to redeem half of its convertible debt. By May 2026, Sequans indicated it was "no longer pursuing" the treasury strategy and planned to monetize its remaining Bitcoin over time.
This move by Sequans is part of a broader trend in 2026 where a growing number of digital asset treasury companies have abandoned or scaled back their accumulation strategies amid a cryptocurrency bear market. Matthew Sigel, head of digital assets research at VanEck, identified at least nine companies that had fully liquidated or abandoned their Bitcoin and crypto treasury strategies in 2026, with several others reducing their holdings. Examples include UK-listed Satsuma Technology, which raised 100 million British pounds ($135 million) in July 2025 for its Bitcoin treasury but later voted to return capital and sell its entire 669 BTC position. Other companies that have fully liquidated their Bitcoin holdings this year include Bitdeer, Genius Group, and Prenetics, while MARA Holdings and Empery Digital have made substantial sales without abandoning their strategies entirely. Companies have cited various reasons for these exits, including debt repayments, working capital needs, shareholder returns, and shifts in business strategy.