Sequans Sells 970 Bitcoin to Slash Debt, Bitcoin Price Slumps to $101,000

Bitcoin Magazine Sequans Sells 970 Bitcoin to Slash Debt, Bitcoin Price Slumps to $101,000 Sequans Communications S.A. (NYSE: SQNS) sold 970 Bitcoin to redeem 50% of its July convertible debt. The move reduced total debt from $189 million to $94.5 million. The company’s Bitcoin treasury now stands at 2,264 BTC, worth about $240 million. This lowers Sequans’ debt-to-net-asset-value ratio from 55% to 39%. The sale frees up capital and boosts flexibility for the company’s ADS buyback program. Sequans is the first publicly listed Bitcoin treasury company to offload a significant portion of its holdings. The transaction does not change the company’s long-term Bitcoin strategy, the company said. The Paris-based IoT semiconductor provider will continue to pursue its Bitcoin treasury initiative while exploring capital markets opportunities. These include potential preferred-share issuance and yield generation on portions of its remaining Bitcoin. Sequans’ stock traded near $6.25, down 13% after the announcement. Year-to-date, shares are down 82%. The company maintains a current ratio of 1.83 and reported $8.1 million in Q2 revenue, with a net loss of $9.1 million. The debt reduction removes covenant constraints and provides additional strategic flexibility for its Bitcoin treasury management. This move was slightly expected as analysts flagged the transfer last week after a wallet linked to Sequans moved bitcoin to a Coinbase address. Back in July, the company announced that it had moved into Bitcoin through a treasury initiative backed by a $384 million private placement. The funding included $195 million in equity securities and $189 million in convertible secured notes. Sequans planned to use this capital to build a Bitcoin position alongside its core IoT operations. Bitcoin price slumps Sequan’ sale comes as bitcoin continues to slide due to economic factors. Bitcoin’s price has slumped below $101,000, down from its early October all-time high above $126,000. The decline has been driven by heavy outflows from crypto ETFs, with spot Bitcoin ETFs losing $1.3 billion and spot Ether ETFs nearly $500 million since October 29. Technical factors added pressure, as Bitcoin briefly fell below its 200-day moving average, a key gauge of long-term momentum. Renewed strength in the U.S. dollar and lingering market fear following October’s “crypto Black Friday” liquidation event have further suppressed buying interest. JUST IN: #Bitcoin dips to $101,759 BUY THE DIP pic.twitter.com/42T1vXgO3f— Bitcoin Magazine (@BitcoinMagazine) November 4, 2025 Analysts warn that if Bitcoin breaks below $100,000, a sharper decline toward April’s $74,000 lows is possible, suggesting a potential 30% downside. Polymarket data currently puts the odds of Bitcoin falling below $100,000 before 2026 at 89%. This post Sequans Sells 970 Bitcoin to Slash Debt, Bitcoin Price Slumps to $101,000 first appeared on Bitcoin Magazine and is written by Micah Zimmerman.