French semiconductor company Sequans Communications is abandoning its Bitcoin treasury strategy after less than a year. The company announced it will liquidate its holdings-658 Bitcoin worth approximately $48 million-to refocus entirely on its Internet of Things (IoT) semiconductor growth.
CEO Georges Karam stated the firm is “fully focused on scaling” its IoT business, with no mention of expanding crypto investments. Sequans launched the strategy in June 2025, calling Bitcoin “a premier asset.” Since then, Bitcoin has dropped over 30%, from $105,419 to $72,780. The company’s NYSE-listed shares, down more than 75% since last June, rose over 14% on the news. Sequans fully redeemed its convertible debt from July 2025, funded in part by earlier BTC sales.
The move reduces the number of publicly traded European companies holding Bitcoin to 40. In contrast, another French firm, Capital B, recently added $15 million in BTC, bringing its total to 3,135 coins-though its stock has since fallen over 16%. Globally, Strategy remains the largest corporate holder with 843,738 BTC.