French semiconductor manufacturer Sequans Communications has announced it is abandoning its cryptocurrency treasury strategy, which began less than a year ago. According to a report on Thursday, the company currently holds 658 Bitcoin (BTC) assets valued at approximately 48 million USD. By selling these assets, the company intends to focus entirely on developing its Internet of Things (IoT) semiconductor business. This is reported by Cointelegraph.com reports .
Shares of Sequans Communications on the NYSE had lost more than 75% of their value since June of last year. However, following the announcement of this new strategy, share prices rose by more than 14.5% in morning trading. The company's management stated that the digital asset strategy, which began in June 2025, has concluded and that remaining reserves will be monetized over time.
According to CEO Georges Karam, Sequans will now focus solely on expanding its core business. Interestingly, last year he called the Bitcoin asset a "first-class and attractive long-term investment." Since the strategy began, the price of Bitcoin has fallen from 105,419 USD to 72,780 USD, a decline of more than 30%.
According to Bitcoin Treasuries data, Sequans' decision has brought the number of European public companies investing in Bitcoin and other cryptocurrencies down to 40. In the US, the number of such companies is 67. For example, Strategy recently purchased 2 billion USD worth of Bitcoin, bringing its total reserves to 843,738 BTC.
Another French company, Capital B, announced last week that it had purchased 15 million USD worth of BTC, taking the spot behind Germany's Bitcoin Group SE in the global rankings. However, following this news, Capital B shares fell by more than 16%.
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