According to Odaily Planet Daily, US-listed semiconductor company Sequans Communications (NYSE:SQNS) redeemed approximately 50% of its convertible bonds by selling 970 bitcoins, reducing the company's total debt from $189 million to $94.5 million.

Sequans currently holds 2,264 bitcoins, down from 3,234 previously. Based on current market prices, his net worth in bitcoins is approximately $240 million, and his debt-to-net-worth ratio has decreased from 55% to 39%.

Sequans CEO Georges Karam stated that the company's Bitcoin allocation strategy and long-term beliefs remain unchanged, and this sale is a tactical decision based on market conditions aimed at optimizing its balance sheet structure and enhancing shareholder value. It is understood that this debt reduction will strengthen the company's previously announced ADS buyback program. Sequans primarily focuses on IoT wireless 4G/5G cellular technology. (Investing)