French semiconductor company Sequans sells remaining 314 Bitcoin, exits Bitcoin reserve strategy

Odaily News: French semiconductor company Sequans Communications has announced the sale of its remaining 314 Bitcoin, completely exiting a reserve strategy that once held over 3,200 Bitcoin. The company stated that this move followed the redemption of convertible debt in May and that it will refocus on cellular IoT and software-defined radio businesses.

Sequans said the proceeds from the Bitcoin sale have been used to settle convertible debt and improve its balance sheet. The company currently holds no cryptocurrency and has no outstanding debt other than government-funded R&D obligations. (Cointelegraph)