PANews reported on July 8 that Sequans Communications, a French 5G/4G IoT semiconductor company, announced the successful completion of a total of $384 million in debt and equity private placement financing, and used all net proceeds to purchase Bitcoin, officially launching a Bitcoin reserve strategy. This move reflects Sequans' firm confidence in Bitcoin as a high-quality asset and long-term investment value. The company plans to continue to purchase Bitcoin through surplus cash and new funds generated by its main business in the future, and cooperate with the Swan Bitcoin platform to ensure security, governance standards and market transparency.

As reported last month, Sequans announced it would raise $384 million in a private placement to launch its Bitcoin reserve program .