Paris-based 5G and internet-of-things chipmaker Sequans Communications has completed a private placement of debt and equity that raised about $384 million. The Nasdaq-listed firm said the proceeds will be used to buy bitcoin and establish a dedicated cryptocurrency treasury on its balance sheet. Sequans is among the first publicly traded European semiconductor companies to adopt bitcoin as a core reserve asset, reflecting a growing trend of corporations diversifying cash holdings with digital currencies. Further details on the timing and scale of bitcoin purchases were not disclosed.