Strategy Announces No New Bitcoin Purchases—But Here's Who Bought 755 BTC

by Murtuza J Merchant Benzinga Staff Writer

Zinger Key Points

Sequans now holds $358.5 million in Bitcoin, reinforcing its position as an emerging corporate Bitcoin treasury holder.
The market is witnessing new corporate entrants like Sequans even as dominant players like Strategy pause acquisitions.
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Strategy Inc. MSTR, known for its consistent Bitcoin BTC/USD accumulation streak, made no new Bitcoin purchases last week, according to a SEC Form 8-K filing.

What Happened: The company broke its pattern of weekly acquisitions, despite a social media post from Executive Chairman Michael Saylor that led many to anticipate another buy.

Saylor had referenced Strategy's inaugural Bitcoin acquisition from 2020—$250 million for 21,454 BTC at $11,654 each, fueling speculation of a new buy.

However, the post turned out to be a retrospective rather than a signal.

Strategy currently holds 607,770 BTC, acquired at an average price of $71,756, with the total portfolio now valued at approximately $43.61 billion, solidifying its position as the largest public corporate holder of Bitcoin.

Also Read: PayPal Rolls Out New Crypto Feature: Here’s Why You Should Care

Why It Matters: While Strategy hit pause, another player stepped in.

Sequans Communications S.A. SQNS, a cellular IoT semiconductor firm that has adopted Bitcoin as its primary treasury reserve asset, announced the purchase of 755 additional Bitcoin for approximately $88.5 million.

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This follows an equity raise earlier in July, which funded the company's expanding Bitcoin strategy.

As of July 25, Sequans holds 3,072 BTC valued at $358.5 million, with an average acquisition cost of $116,690 per coin.

The company emphasized its long-term commitment to Bitcoin as a store of value and stated that future acquisitions may be funded by additional equity raises, operations, or IP monetization.

This puts Sequans among a growing group of non-crypto native firms using their balance sheets to build Bitcoin exposure, reminiscent of early moves by companies like Strategy in 2020.

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