Sequans Communications (NYSE: SQNS) announced the launch of a Bitcoin reserve strategy, purchasing 370 Bitcoins for the first time. The internet of things semiconductor supplier plans to accumulate over 3,000 BTC in the coming weeks, with the funds for this purchase coming from the common stock and convertible bond issuance completed on July 7. Sequans has chosen Coinbase Prime as its digital asset custody platform, providing secure and compliant infrastructure support. Sequans CEO Georges Karam stated: "This move reflects our confidence in Bitcoin as a long-term store of value." Previously, Sequans announced a $384 million financing to initiate the Bitcoin reserve plan.

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