Sequans stock skyrockets 43% after bold Bitcoin bet backed by Wall Street heavyweights

Sequans Communications stock surged 43% after the chip company announced a bold new move—shifting its treasury strategy to invest in Bitcoin. Backed by over 40 institutional investors, Sequans raised $384 million through equity and debt to fund the purchase of the digital asset. CEO Georges Karam believes Bitcoin's scarcity and decentralized model will bring long-term value. Partnering with Swan Bitcoin for execution and custody, this approach mirrors strategies used by MicroStrategy. Despite a tough year...