A Paris-based company, Sequans Communications, has sold around 970 bitcoins worth $232 million, trimming its bitcoin treasury from 3,234 to 2,264 BTC. The sale aims to strengthen its balance sheet and lower debt by redeeming half of its convertible debt. Despite this move, the CEO says the company’s “deep conviction in bitcoin remains unchanged.” This is the first significant offloading of a publicly traded company’s bitcoin holdings.
Source: https://www.tradingview.com/news/the_block:af89ea38e094b:0-sequans-dumps-nearly-a-third-of-bitcoin-holdings-to-pay-down-debt-as-btc-falls-to-four-month-low