Sequans Communications, the France-listed chipmaker that adopted Bitcoin as a treasury asset last year, has sold 1,025 Bitcoin, cutting its holdings from about 2,139 BTC to 1,114 and dropping its position to roughly fortieth among public-company holders on market trackers.
That is the real significance here: even with institutional demand for Bitcoin still firm, a public company can treat its treasury stack as something to actively rebalance, not just accumulate. Sequans is not exiting the trade, but trimming nearly half its holdings is a clear capital-management move, and the scale of that reduction is what investors should focus on.