French Company Abandons Crypto Treasury Strategy, Will Liquidate Bitcoin Holdings

The France-based semiconductor company that announced a move into crypto is “no longer pursuing” a treasury strategy after less than a year.

In a Thursday notice, Sequans Communications said it held 658 Bitcoin (BTC) worth about $48 million at the time of publication, which it said was “fully unencumbered” and unrestricted as it looks to refocus solely on Internet of Things (IoT) semiconductor growth.

The company’s NYSE-traded shares, which have shed more than 75% since last June, were up more than 14.5% in morning trading following the announcement.

According to the company, it had concluded the digital asset treasury strategy it launched in June 2025 and would “monetize remaining holdings over time.” The shift in strategy came as Sequans said it had fully redeemed all convertible debt issued in July 2025, funded with the liquidation of some of its BTC holdings at the time.

CEO Georges Karam said that the company was “fully focused on scaling [its] [Internet of Things] semiconductor business,” not mentioning any plans to scale up crypto investments. 

Source: Sequans

Sequans announced the sale of $384 million in equity securities and convertible secured debentures a year ago, with Karam calling Bitcoin “a premier asset and a compelling long-term investment” at the time. Since the launch of its treasury strategy, the price of Bitcoin has fallen by more than 30%, from $105,419 to $72,780.

Related: Europe’s Bitcoin treasury playbook won’t be a copy of Strategy: PBW 2026

Capital B shares continue dropping after Bitcoin acquisition

The move away from a digital asset treasury reduces the total number of publicly traded European companies investing in Bitcoin and other cryptocurrencies to 40, according to website Bitcoin Treasuries. It lists 67 publicly traded US companies, including Strategy, which announced a $2 billion purchase in Bitcoin on May 18, bringing its total holdings to 843,738 BTC.

Another France-based Bitcoin treasury company, Capital B, last week announced that it had purchased more than $15 million worth of BTC, bringing its total holdings up to 3,135 coins. The company’s stock price has since fallen more than 16%.

Source: Yahoo! Finance

BitcoinTreasuries data shows Capital B was the 25th-largest BTC treasury globally, trailing behind Germany’s Bitcoin Group SE.

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