Latest news with #Bitcointreasuries
Yahoo
2 days ago
- Business
- Yahoo
Sequans Shares Jump 35% After $384M Debt-Equity Raise to Fund Bitcoin Treasury
Sequans Communications' (SQNS) surged more than 40% after the wireless-chip designer closed a $384 million private placement with plans to spend the bulk of that in bitcoin (BTC). The deal combined a $195 million sale of American depositary shares (ADS) and warrants at $1.40 with $189 million of five-year secured convertible debentures priced at a 4% discount, according to a press release. The France-based company's ADSs rose to $2.01 on Nasdaq after the announcement. Investors can convert at $2.10 per American depositary share and, if all warrants are exercised, Sequans could net another $57.6 million, with the funds also being earmarked for bitcoin purchases. CEO Georges Karam said the company sees the asset enhancing its financial resilience and creating long-term value. Sequans designs low-power 4G and 5G modems used in smart meters, asset trackers and industrial sensors. Swan Bitcoin will source and custody the coins while Northland Capital Markets and B. Riley Securities handled the financing. The move sees Sequans join a growing list of publicly traded firms adopting bitcoin as their primary treasury reserve asset. A total of 852,309 BTC are currently held by these firms, according to Bitcointreasuries data. The bulk of those coins are held by Strategy (MSTR), which has 597,325 BTC on its balance sheet. It's followed by MARA Holdings (MARA) with 50,000 BTC and XXI, with 37,230 BTC. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28-06-2025
- Business
- Yahoo
Bitcoin Treasury Corp Boosts Holdings to 771 BTC, Plans Lending After $51M Buy
Bitcoin Treasury Corporation, a Canadian firm focused on bitcoin-related services, has wrapped up the first leg of its bitcoin buying campaign, adding 478.57 bitcoin (BTC) for CAD $70 million ($51 million) and boosting its total holdings to 771.37 BTC. The accumulation works out to roughly 0.0000634 BTC per fully diluted share, the company said in a Friday press release. The Toronto-based firm plans to lend part of its BTC treasury to trading desks and other counterparties that need ready access to the cryptocurrency. The approach mirrors that of numerous other companies adopting bitcoin as a treasury reserve asset. Publicly-traded companies now hold a total of 841,715 BTC worth over $90 billion, according to Bitcointreasuries data, while private firms are estimated to hold 290,878 BTC worth over $31 billion.
Yahoo
26-06-2025
- Business
- Yahoo
Deep Sea Mining Firm Goes Deep on Bitcoin With $1.2B BTC Treasury Plan
Green Minerals (GEM), a Norwegian deep-sea mining firm, said Wednesday it bought four bitcoin BTC in its first purchase following Monday's announcement of a $1.2 billion treasury strategy as it joins the ranks of companies including the largest cryptocurrency in its broader financial strategy. The company said it paid about 4.25 million Norwegian kroner ($420,000) for the bitcoin, or about $105,000 per token. The Oslo-listed firm, which trades on Euronext Growth, framed the move as part of a transition into a more tech-integrated model. Executive Chairman Ståle Rodahl called bitcoin a hedge against inflation and fiat debasement, citing its 'decentralized, non-inflationary properties' as key advantages over traditional reserves, in Monday's statement. The treasury plan adds Green Minerals to a rapidly expanding list of public companies incorporating crypto into their balance sheets. Over 245 companies now hold bitcoin, up 13% in the past month alone, according to data from Bitcointreasuries. Together, they hold more than $88 billion in BTC. The announcement triggered a sharp selloff in the company's shares, which fell almost 20% on Tuesday. They were recently 2% lower. The company will establish a transparent and secure framework for the acquisition, management, and reporting of bitcoin holdings, such as a bitcoin-per-share indicator that will provide shareholders with 'clear insights into the digital asset value attributable to each share.' The 'core operational strategy remains steadfast,' the company said 'The bitcoin treasury program will support the company's project plans.' Sign in to access your portfolio
NBC News
13-02-2025
- Business
- NBC News
With Trump all-in on crypto, bitcoin bulls bet the trillions in cash on America's corporate balance sheets are next
Last week, White House crypto czar David Sacks held his first press conference to discuss the future of crypto policy coming out of the Trump administration. While that will include stablecoin legislation and digital asset regulation, Sacks told CNBC that a top agenda idea is also evaluating 'whether it's feasible to create either a bitcoin reserve or some sort of digital asset stockpile.' But will the momentum around bitcoin and other cryptocurrencies carry over to corporate America more broadly, appearing on balance sheets? To date, companies with exposure to bitcoin in their business operations have been the first movers in this space, in many cases, to show their support and buy-in to the industry. According to the bitcoin tracking website Bitcointreasuries, 79 public companies currently hold bitcoin, with some of the largest holders being companies like Riot Platforms, Coinbase and Block. Strategy, the company formerly known as MicroStrategy, and its co-founder, Michael Saylor, have been the champion of this approach as the largest corporate holder of bitcoin. On its third-quarter earnings call earlier this month, the company said it holds 471,107 bitcoins on its balance sheet, about 2% of the total supply and worth roughly $45.2 billion. Also on the list of crypto industry companies holding bitcoin on the balance sheet is Moonpay, a venture-backed financial technology company that builds payments infrastructure for crypto. The company has added bitcoin to its balance sheet equal to 5% of its operational cash, according to CEO Ivan Soto-Wright. While Soto-Wright said some of the thought process is that 'we're only going to succeed if bitcoin succeeds,' he believes there is a growing argument to include bitcoin in any company's treasury strategy. 'It's really detached both from interest rates and equity market movements, so you could see it from that perspective,' he said. 'You could also see it from the perspective of an inflation hedge .. in terms of large money movement, it's incredibly efficient so you could argue it's a better version of gold.' That is one of the arguments that Saylor has made, and one he repeated while making one of the most high-profile pushes to spur a major U.S. company to add bitcoin to its balance sheet, appearing at Microsoft 's annual meeting to speak on behalf of a shareholder proposal that called on the company's board to evaluate holding bitcoin or other cryptocurrencies. Saylor doubled down on that message at the ICR conference earlier this year, where in a presentation he said that companies can either 'cling to the past' and continue to buy Treasury bonds, execute buybacks and dividends, or 'embrace the future' by using bitcoin as digital capital. 'It works for any company,' Saylor said in the retail conference's keynote speech. 'We're the people building with steel and they're building with wood.' At least in the short-term, it can look good, too. Tesla, one of the few non-crypto-focused companies to hold bitcoin on its balance sheet, showed the positive side of this in its most recent quarter when it marked a $600 million profit due to the appreciation of bitcoin. The Financial Accounting Standards Board adopted a new rule for 2025 that mandates that corporate digital asset holdings be marked to market each quarter. But so far, the message and broader movement has not spread much wider than the crypto industry. Just 0.55% of votes at Microsoft's annual meeting supported the plan. Microsoft, as well as proxy advisors Glass Lewis and Institutional Shareholder Services, had all suggested shareholders reject the proposal ahead of the vote. Microsoft said in an October proxy filing that its treasury and investment services team previously evaluated bitcoin and other cryptocurrencies to fund the company's operations and reduce economic risk, adding that it 'continues to monitor trends and developments related to cryptocurrencies to inform future decision making.' At Microsoft's annual meeting, CFO Amy Hood said: 'it's important to remember our criteria and our goals of our balance sheet and for the cash balances, importantly, is to preserve capital, to allow a lot of liquidity to be able to fund our operations and partnerships and investments .. liquidity is also a really important criteria for us, as well as generating income.' Bitcoin-backing shareholders aren't going away The lack of adoption so far isn't discouraging proponents of companies holding bitcoin on the balance sheet. Ethan Peck, the deputy director of the Free Enterprise Project, which is part of conservative think tank National Center for Public Policy Research, filed the shareholder proposal at Microsoft and said he plans to file similar proposals during the upcoming proxy season at other large companies. In all, it has been recently estimated that the S&P 500 universe of companies collectively holds over $3.5 trillion on balance sheets, though the figure changes quarter-to-quarter. While Peck said he is not advocating for companies to take as aggressive of a stance as Strategy has, 'Companies should consider holding a couple percent of bitcoin in order to negate or offset the base of your cash holdings because you're losing your shareholders' money.' 'The bond yields are not outpacing real inflation, so you're losing money,' Peck said. The performance of bitcoin over the past five years. Bitcoin has vastly outperformed cash equivalents, though with much greater volatility. However, that debate is far from decided in corporate America, according to Markus Veith, who leads Grant Thornton's digital asset practice, especially as bitcoin has reacted more in line with the broader stock market than inflation over the last year or so, and volatility is still high — something that Microsoft's board also pointed out in its rejection of that shareholder proposal. Veith said regulation might also be holding companies back. The SEC rescinded SAB 121 in January, a rule that required banks to classify cryptocurrencies as liabilities on their balance sheet, creating a capital requirement burden that kept many banks from providing custody for crypto assets. That's a change that could lead banks, including Goldman Sachs, to revisit the issue. CEO David Solomon told CNBC at Davos last month that 'At the moment, from a regulatory perspective, we can't own' bitcoin, but he added that the bank would revisit the issue if the rules changed. Much of Wall Street is also starting to at least cautiously sing a different tune, with Morgan Stanley CEO Ted Pick and Bank of America CEO Brian Moynihan both telling CNBC while at Davos last month that their institutions could allow broader adoption if the regulatory environment changes. But regulation can't solve the issue of crypto's extreme volatility, and the concern that there may be another downturn at some point. 'What do you do if there's going to be another crypto winter, and the price goes down and you're sitting for a prolonged basis on a big stash of bitcoin and the price keeps going down? How do you explain that to your stakeholders, shareholders, or board? That's probably what is hindering more companies from going into this space,' Veith said. The most recent CNBC CFO Council quarterly survey, taken in December, is a reflection of that risk assessment: 78% of the CFO respondents to the survey said bitcoin is a highly speculative asset class, while 7% said it is a credible store of value. Furthermore, 11% said it is a fraud, though that latter view has come down over time in the quarterly CFO survey. As the Trump administration continues to embrace crypto, the crypto view from within corporate America could change more. Asked if he thinks companies are reassessing the things they once assumed about crypto, Soto-Wright pointed to the overtures coming out of Washington, D.C., and the potential for a national reserve and additional regulation changes. 'If you look at the general trends, it's becoming more adopted by institutions as there's more circulation, as there are more products that come to market, and as it starts to develop its statute and stance as a truly diversified, uncorrelated financial instrument,' he said. 'I think you'll start to see more and more companies recognize that in their treasury portfolio management strategy, this is another asset that is legitimized,' Soto-Wright said.
