A Giant Company Launches a "Tactical Sell!" As Bitcoin (BTC) Falls! Here's the Reason for the Sell!

Paris-based company Sequans, one of the Bitcoin treasury companies, sold Bitcoin for the first time to pay off its ￰0￱ Sequans' sale came as Bitcoin fell, the company announced that it was selling to pay off ￰1￱ this point, Sequans stated in his statement that he paid 50% of his debt by selling 970 ￰2￱ debt of the chip company, listed on the New York Stock Exchange, fell from $189 million to $94.5 million with the payment made after this sale. Sequans, a pioneer in adopting Bitcoin as the primary treasury reserve asset and a leading provider of cellular IoT semiconductor solutions, sold 970 ￰3￱ a result of this transaction, Sequans reduced its total debt from $189 million to $94.5 ￰4￱ company's Bitcoin holdings also decreased from 3,234 BTC to 2,264 ￰5￱ CEO Georges Karam stated in a statement that their belief in Bitcoin remains unchanged, saying, “Our Bitcoin treasury strategy and our deep belief in Bitcoin remain ￰6￱ sale was a tactical decision given current market ￰7￱ strengthens our financial foundation and, by removing certain debt covenant restrictions, allows us to execute a broader range of strategic initiatives to prudently develop and grow our treasury, utilizing Bitcoin as a long-term strategic reserve asset.” Bitcoin's decline, which began last night, continues, with the price dropping 3.5% in the last 24 hours to $103,000.

This decline is attributed to diminished hopes for interest rate cuts following hawkish statements from Fed officials, the prolonged US federal government shutdown, and the large-scale liquidation of long positions. *This is not investment ￰8￱ Reading: A Giant Company Launches a "Tactical Sell!" As Bitcoin (BTC) Falls! Here's the Reason for the Sell!