Sequans Communications (SQNS) liquidiert 970 BTC – Schulden um die Hälfte reduziert!

Französisches Tech-Unternehmen macht Bitcoin-Exit zur Schuldentilgung

Strategischer Asset-Verkauf

Sequans Communications hat knapp 970 Bitcoin veräußert und damit satte 50 Prozent seiner Verbindlichkeiten abgebaut. Der radikale Schritt zeigt, wie Unternehmen digitale Vermögenswerte als strategische Reserve nutzen – und bei Bedarf liquidieren.

Bitcoin als Bilanzpolster

Die Transaktion demonstriert erneut die wachsende Akzeptanz von Kryptowährungen in der Unternehmensfinanzierung. Während traditionelle Investoren noch zögern, setzen forward-thinking Companies bereits auf BTC als flexibles Bilanzinstrument.

Schuldenabbau meets Crypto-Realität

Typisch französisch: Erst groß in Bitcoin investieren, dann bei ersten Anzeichen von finanziellen Engpässen wieder aussteigen. Aber immerhin – die Hälfte der Schulden sind weg, auch wenn's vielleicht zum falschen Zeitpunkt verkauft wurde.

Sequans adjusted its debt-to-asset ratio

Following the sale, Sequans improved the ratio of debt to net asset holdings from 55% to a more prudent 39%. 

‘Our Bitcoin treasury strategy and our DEEP conviction in Bitcoin remain unchanged,’ said Georges Karam, CEO of Sequans.

‘This transaction was a tactical decision aimed at unlocking shareholder value given current market conditions. It strengthens our financial foundation and removes certain debt covenant constraints, enabling us to pursue a wider set of strategic initiatives to prudently develop and grow our treasury, with Bitcoin as a long-term strategic reserve asset,’ he said.

Sequans is a later addition to playbook treasury companies, buying its coins during the peak period of hype. The selling arrived at a time when BTC was still sliding, pressured by profit-taking from whales and retail wallets. 

Sequans follows the recent move of EthZilla to sell a part of its ETH holdings for share buybacks. There is currently no standard for treasury companies to retain all their holdings, even when conditions worsen. The playbook approach works during bullish parts of the crypto cycle, but this time, the willingness of treasury companies to hold may be tested. 

Sequans trades near an all-time low

SQNS shares had a short-lived rally in July 2025, reaching a yearly high above $53. 

As of November, SQNS traded at $6.22, an all-time low. The stock is down nearly 20% in the past year. SQNS is part of the treasury hype, which ended up taking $17B in liquidity from Wall Street. The shares of DAT companies were considered overvalued in hindsight, as they traded above the value of BTC held in the treasuries. 

A threatening bear market shows that DAT companies may not have access to the same liquidity and buyer pool if the BTC price is not climbing. Additionally, treasury purchases have slowed down and can no longer spark BTC growth. 

Sequans also reported shrinking revenues in Q3, down to $4.3M from $8.1M in the previous quarter. The company market $6.7M in losses for Q3, significantly down from the $72.6M net gain in Q3, 2024.

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