French company abandons crypto treasury strategy, will liquidate Bitcoin holdings

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Source: Sequans Sequans announced the sale of $384 million in equity securities and convertible secured debentures a year ago, with Karam calling Bitcoin “a premier asset and a compelling long-term investment” at the time. Since the launch of its treasury strategy, the price of Bitcoin has fallen by more than 30%, from $105,419 to $72,780. Related: Europe’s Bitcoin treasury playbook won’t be a copy of Strategy: PBW 2026 The move away from a digital asset treasury reduces the total number of publicly traded European companies investing in Bitcoin and other cryptocurrencies to 40, according to website Bitcoin Treasuries. It lists 67 publicly traded US companies, including Strategy, which announced a $2 billion purchase in Bitcoin on May 18, bringing its total holdings to 843,738 BTC. Another France-based Bitcoin treasury company, Capital B, last week announced that it had purchased more than $15 million worth of BTC, bringing its total holdings up to 3,135 coins. The company’s stock price has since fallen more than 16%. Source: Yahoo! Finance BitcoinTreasuries data shows Capital B was the 25th-largest BTC treasury globally, trailing behind Germany’s Bitcoin Group SE. Magazine: Big Questions: Do we really only need 2–5 cryptocurrencies? More on the subject

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