Why Is This Company Dumping All of Its Bitcoin and Abandoning Its BTC Strategy?

The NYSE-listed semiconductor company Sequans Communications announced earlier this week that it had sold its remaining 34 BTC and had officially closed the book on its Bitcoin treasury strategy.

The company has finalized its exit, which began earlier this year, as management prioritized debt reduction and refocused on its core business.

Done With Bitcoin

The press release shared by the company said the final sale leaves it with no cryptocurrency holdings on its balance sheet and no outstanding debt, except for obligations tied to government-funded research and development programs. Sequans framed the move as the final step in a broader balance-sheet restructuring rather than a bearish call on Bitcoin itself.

CEO Georges Karam said his company had monetized its remaining holdings in a “measured and opportunistic manner,” but it will now devote its full attention to its semiconductor growth strategy.

Sequans began its BTC retreat in May after using a portion of its BTC holdings to redeem all remaining convertible debt issued in July 2025. Back then, it still held roughly 658 BTC, but explicitly announced that its digital asset treasury strategy had concluded and that those remaining units would be monetized over time. By June 30, its total stash had fallen to 314 BTC, but it was emptied out entirely as of late September.

On the plus side, the company’s product revenue rose by more than 80% year-over-year in Q2, while its six-month product backlog more than tripled, according to the PR.

Various Takes on BTC Strategy

Aside from Sequans, other public companies also reduced their exposure to BTC this year, including Satsuma Technologies. It also dismantled its treasury vehicle, disposing of the remaining units a few months back. Empery Digital sold 1,400 BTC for about $87 million earlier this year as well.

Perhaps the biggest surprise came from Strategy, which broke with its long-standing buy-only approach during the summer, completing a few consecutive sales. However, it resumed its accumulation spree in late August and last week as BTC’s price started to recover and Strategy’s position turned green.

Strive has been on the opposite side; no sales have been conducted, and it has only accelerated its BTC purchases. Its stash reached 25,000 units earlier this month, and it acquired another 1,355 BTC last week.