Crypto
Capital B Just Added 13 Bitcoin, While Sequans Traded Its Stack for a Clean Balance Sheet
Two public companies made opposite calls on their bitcoin this week, and both moves show corporate treasury discipline maturing in real time. Capital B, the Paris listed company that calls itself Europe's first Bitcoin Treasury Company, announced on September 28 that it bought 13 more bitcoin for 970,000 euros. The purchase lifts its total to 3,538 bitcoin, acquired at an average price of 87,805 euros per coin. Since the start of the year, the company reports a bitcoin yield of 2.20 percent, a bitcoin gain of 62.1 coins, and a euro gain of 4.6 million. Independent coverage from PANews confirmed the figures the same day.
The mechanics show how the strategy funds itself. Capital B completed a capital increase of 982,872.69 euros through 172,978 new shares at 5.68 euros each under its ATM type program with TOBAM, and used the proceeds to buy the coins. Swissquote Bank Europe, a MiCA authorized crypto asset service provider, executed the purchase and holds custody through the technology of Swiss company Taurus, acting as the company's sole bitcoin custodian. The company tracks bitcoin per fully diluted share as its core metric, and the latest purchase keeps that figure climbing.
Sequans Communications walked the other direction, and its shareholders have reason to applaud. On September 24, the fabless semiconductor company sold its final 314 bitcoin, fully exiting its digital asset treasury strategy. The company reports zero cryptocurrency assets and zero outstanding corporate debt beyond obligations tied to government financed research projects. The sale completes a capital restructuring that began in May with the redemption of convertible debt. Sequans will redirect its focus to scaling its cellular Internet of Things and software defined radio chip operations, where product revenue grew more than 80 percent year over year in the second quarter and the six month product backlog more than tripled. Chief executive Georges Karam called the exit an important milestone that leaves the company with a very strong balance sheet.
The contrast is instructive. Capital B treats bitcoin as its core balance sheet asset and measures success in coins per share. Sequans treated bitcoin as a financing tool, used it to clear its debt, and returned to its semiconductor business with cleaner books. Both companies chose deliberately, disclosed fully, and moved decisively. The era of companies holding bitcoin by accident is giving way to companies using it on purpose, in either direction. What it means for you. Corporate bitcoin treasuries are growing up, and the mature ones will tell you exactly what the coins are for.
Quick answers
What is this story about?
Two public companies made opposite calls on their bitcoin this week, and both moves show corporate treasury discipline maturing in real time. Capital B, the Paris listed company that calls itself Europe's first Bitcoin Treasury Company, announced on September 28 that it bought 13 more bitcoin for 970,000 euros. The purchase lifts its total to 3,538 bitcoin, acquired at an average price of 87,805 euros per coin. Since the start of the year, the company reports a bitcoin yield of 2.20 percent, a bitcoin gain of 62.1 coins, and a euro gain of 4.6 million. Independent coverage from PANews confirmed the figures the same day.
Why does this story matter?
The contrast is instructive. Capital B treats bitcoin as its core balance sheet asset and measures success in coins per share. Sequans treated bitcoin as a financing tool, used it to clear its debt, and returned to its semiconductor business with cleaner books. Both companies chose deliberately, disclosed fully, and moved decisively. The era of companies holding bitcoin by accident is giving way to companies using it on purpose, in either direction. What it means for you. Corporate bitcoin treasuries are growing up, and the mature ones will tell you exactly what the coins are for.
Sources
New to crypto? Read the crypto glossary, browse frequent questions, read our story, or explore the story archive.