Semiconductor company Sequence seeks to raise $384 million for Bitcoin strategy

Sequans, which develops semiconductors and modules for the Internet of Things (IoT), is taking a step forward as more and more companies use Bitcoin as a reserve asset.
Communications has begun to secure Bitcoin assets. On the 23rd (local time), Sequans announced through an official announcement that it has secured approximately 3 billion yen in Bitcoin for its strategic holdings.
Sequence said it plans to raise $184 million in capital by issuing about $195 million in stock and about $189 million in convertible notes, the company said.
The convertible notes can then be converted into shares. For this strategy, Sequans has partnered with Swan, a Bitcoin asset manager.
"We are pleased to partner with Bitcoin, which is the No. 1 asset class," Sequans CEO Georges Karam said in a statement.
"We strongly believe that Bitcoin remains an attractive investment opportunity for the long term," he said. "Our Bitcoin Reserve Strategy reflects this belief."
Meanwhile, according to BitcoinTreasuries.NET, a Bitcoin-related data provider,
Currently, about 240 companies have Bitcoin on their balance sheets, up about 100% from just a few weeks ago. Their collective Bitcoin holdings amount to about 1.2 billion USD of the entire supply.
This is equivalent to about 4% of the total.