{"id":6425,"date":"2025-07-31T19:17:59","date_gmt":"2025-07-31T19:17:59","guid":{"rendered":"https:\/\/bitunikey.com\/news\/sequans-and-other-bitcoin-treasury-companies-saw-their-stocks-plummet-this-july-what-does-this-signal-mean\/"},"modified":"2025-07-31T19:18:07","modified_gmt":"2025-07-31T19:18:07","slug":"sequans-and-other-bitcoin-treasury-companies-saw-their-stocks-plummet-this-july-what-does-this-signal-mean","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/sequans-and-other-bitcoin-treasury-companies-saw-their-stocks-plummet-this-july-what-does-this-signal-mean\/","title":{"rendered":"Sequans and other Bitcoin treasury companies saw their stocks plummet this July. What does this signal mean?"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Swan-promoted Sequans and several other Bitcoin treasury companies went through a rough period in July. After peaking on Jul. 14, 2025, Sequans\u2019 stock price dropped by around 75%. Several treasury companies saw even harsher drops. What does this signal mean?<\/p>\n<div id=\"cn-block-summary-block_114523edaedb3777524a2aa06433d3e4\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Semiconductor manufacturer Sequans partnered with Swan and raised over $300 million to start Bitcoin accumulation.<\/li>\n<li>Despite a solid start, SQNS\u2019 stock price dropped by 75% in July.<\/li>\n<li>July saw many Bitcoin treasury companies\u2019 stock prices go down, on several occasions by over 50%.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<h2 class=\"wp-block-heading\">Sequans\u2019 Bitcoin Pivot<\/h2>\n<p>Sequans Communications is a Paris-based semiconductor manufacturer that went crypto a year after its stock\u2019s price plummeted from around $7 to $1 in 2024. In June, Sequans teamed up with the Bitcoin company Swan and started to raise capital for launching the Bitcoin treasury company. The change in the regulatory environment explains the timing of the Bitcoin pivot, as Swan CIO Ben Werkman put it in the Jul. 9 interview with CNBC.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\u201cThe emergence of Bitcoin treasury companies changes everything.\u201d<br \/>\u2014 Ben Werkman on CNBC<\/p>\n<p>French semiconductor firm Sequans ($SQNS) just raised $384M to establish a Bitcoin treasury.<\/p>\n<p>Werkman explains how moves like this are redefining institutional risk and integrating Bitcoin\u2026 <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/E4CVU3yWsG\" target=\"_blank\">pic.twitter.com\/E4CVU3yWsG<\/a><\/p>\n<p>\u2014 Swan (@Swan) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/Swan\/status\/1943048226216828949?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">July 9, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>The company raised <a rel=\"nofollow\" target=\"_blank\" target=\"_blank\" href=\"https:\/\/www.nasdaq.com\/articles\/sequans-launches-384m-bitcoin-treasury-initiative-swan-bitcoin-partnership\" rel=\"nofollow\">$384 million<\/a>, outpacing MicroStrategy, which spent $250 million to buy its first Bitcoin capital in 2020 (however, it\u2019s worth noting, Bitcoin was way cheaper back then).\u00a0<\/p>\n<p>Speaking of Sequans\u2019 Bitcoin pivot, Werkman said that some might think that the market is becoming saturated, but the real opportunities for investors are still there. Here\u2019s how he outlined the attractiveness of the fresh Bitcoin treasury companies:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201c\u2026one of the metrics that came out around these treasury companies is called Bitcoin yield\u2026 [It is] the rate at which a company is accumulating Bitcoin per share\u2026 [Investors are] seeing new companies emerging into the market where they see hyper growth in the Bitcoin per share in front of them. And they\u2019re starting to rotate capital into some of those companies to try to find that five or 10x opportunity that a lot of them may feel that they missed the Strategy early on.\u201d<\/p>\n<\/blockquote>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\">SQNS price volatility<\/h2>\n<p>Following the completion of the enquiry offering on Jul. 8, the SQNS stock saw a short-lived spike, going from $1.43 to $5.39 by Jul. 25, and then plummeting to $1.3 by the end of the month. Such a downfall is <a rel=\"nofollow\" target=\"_blank\" target=\"_blank\" href=\"https:\/\/www.fool.com\/investing\/2025\/07\/31\/texas-instruments-and-asml-are-falling-could-other\/\" rel=\"nofollow\">in line<\/a> with the other semiconductor companies\u2019 stocks\u2019 nosedive at the end of July. More than that, on the date when the SQNS price began to decline, Galaxy Digital moved dozens of thousands of BTC to several crypto exchanges, causing a short-term crypto market drop.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Paper Bitcoin Summer vibecheck: still having fun? <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/upQI664EfA\" target=\"_blank\">pic.twitter.com\/upQI664EfA<\/a><\/p>\n<p>\u2014 FRANCIS \u2013 BULLBITCOIN.COM (@francispouliot_) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/francispouliot_\/status\/1950664411741409588?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">July 30, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>The period during which Sequans was buying bitcoins coincided with the BTC price spike. On Jul. 14, BTC even reached its all-time high at $123,091. However, according to Cory Klippsten of Swan, the average BTC price at which Sequans was buying BTC those days didn\u2019t exceed $119,000. While corporate Bitcoin accumulators, including Strategy, usually don\u2019t try to time the market, such an expensive entry may seem unfortunate for Sequans.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Slick purchase history view from the upcoming <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/SEQUANCE?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">@sequance<\/a> LBE analytics dashboard \ud83d\udc40<br \/>Great stuff from <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/BenWerkman?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">@BenWerkman<\/a> <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/skwp?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">@skwp<\/a> and the team! <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/zIwREpNam3\" target=\"_blank\">pic.twitter.com\/zIwREpNam3<\/a><\/p>\n<p>\u2014 Cory Klippsten \ud83e\udda2 Swan.com (@coryklippsten) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/coryklippsten\/status\/1950241143343501654?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">July 29, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>Recently, Sequans reported a net loss of $9.1 million in Q2 2025, which is a 15% drop from Q2 2024. The operating loss is down, too. Over the year, the gross margin of Sequans declined from 84% to 64%. Other metrics show mixed results with the product revenue growing by 59% while license and services revenue are down.\u00a0<\/p>\n<p>Nevertheless, the company is going to reach breakeven in 2026 and will continue its focus on Bitcoin accumulation. While it is not clear what the future holds for SNQS, the July performance of this stock signals that these days, investors approach Bitcoin treasury companies with caution.<\/p>\n<h2 class=\"wp-block-heading\">Other treasury companies<\/h2>\n<p>Sequans wasn\u2019t the only treasury company whose stock dropped this July. However, only a few of them lost over 50% of their stock value in July.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">When in doubt, ZOOM OUT!<\/p>\n<p>All performance in 1 week : <\/p>\n<p>Bitcoin -1.45%<\/p>\n<p>USA Region:<br \/>Strategy <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">$MSTR<\/a> -1.7%<br \/>21 Capital <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24CEP&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">$CEP<\/a> -16.76%<br \/>Kindly MD, Inc <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24NAKA&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">$NAKA<\/a> -19.56%<br \/>Sequans Communications S.A <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24SQNS&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">$SQNS<\/a> -28.95%<br \/>Columbus Circle Capital Copr <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24CCCM&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">$CCCM<\/a> -3.72%<br \/>Semler Scientific <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24SMLR&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">$SMLR<\/a> -9.9%<\/p>\n<p>Japan\u2026<\/p>\n<p>\u2014 boyzMETA (@boyz_meta) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/boyz_meta\/status\/1947292945750818917?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">July 21, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>Nakamoto, headed by David Bailey, is another big name in the industry. Its equity NAKA was another treasury stock taking a hit in July, <a rel=\"nofollow\" target=\"_blank\" target=\"_blank\" href=\"https:\/\/finance.yahoo.com\/quote\/NAKA\/\" rel=\"nofollow\">sliding<\/a> from $13.5 to below $8 during the month. Jack Maller\u2019s 21 Capital stock\u2019s price <a rel=\"nofollow\" target=\"_blank\" target=\"_blank\" href=\"https:\/\/finance.yahoo.com\/quote\/CEP\/\" rel=\"nofollow\">went<\/a> from $41 at the peak on Jul. 14 to $25.5 bottom on Jul. 29. French corporate Bitcoin treasury company Blockchain Group saw its stock\u2019s price <a rel=\"nofollow\" target=\"_blank\" target=\"_blank\" href=\"https:\/\/finance.yahoo.com\/quote\/ALTBG.PA\/\" rel=\"nofollow\">drop<\/a> from $4.4 on Jul. 1 to $2.6 by Jul. 31.<\/p>\n<p>Two UK Bitcoin treasury companies saw sharp declines. Smart Web Company\u2019s stock <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.nasdaq.com\/market-activity\/stocks\/tswcf\" target=\"_blank\" rel=\"nofollow\">went<\/a> from $6.1 on Jul. 9 to $2.51 on Jul. 29. Coinsilium\u2019s stock <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/finance.yahoo.com\/quote\/CINGF\/\" target=\"_blank\" rel=\"nofollow\">fell<\/a> from $0.41on on Jul. 11 to $0.09 by Jul. 25, marking a fourfold drop, comparable to Sequans\u2019 downfall.<\/p>\n<p>While some treasury companies saw softer declines this July, the overall bleeding of such enterprises signals a lack of investors\u2019 confidence in such businesses and too strong dependence on Bitcoin\u2019s stability. Even though Bitcoin hit an all-time high, these companies saw severe sell-offs. If similar tendencies persist in the future months, the treasury companies\u2019 trend might share the NFT market\u2019s fate at best.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Swan-promoted Sequans and several other Bitcoin treasury companies went through a rough period in July. After peaking on Jul. 14, 2025, Sequans\u2019 stock price dropped by around 75%. Several treasury&hellip;<\/p>\n","protected":false},"author":1,"featured_media":6426,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6425","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/6425","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=6425"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/6425\/revisions"}],"predecessor-version":[{"id":6427,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/6425\/revisions\/6427"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/6426"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=6425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=6425"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=6425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}