Bitcoin Treasury Management - Strategy 首席执行官 Saylor 考虑出售股票，以建立 14.4 亿美元的现金储备，用于股息支付 [1] - 行业专家认为 Saylor 是唯一经历过完整熊市的比特币国库管理者 [1] - Saylor 在 2022 年的熊市中，即使 mNAV 远低于成本基础，Strategy 的股票也曾一度水下，但他并没有出售任何股票 [1] Bear Market Resilience - 在最坏的熊市情况下，即使出现约 80% 的下跌，Saylor 也不需要出售任何股票 [2] - 尽管成本基础和一些动态有所变化，但目前的情况与上次熊市类似 [2] Market Acquisition - 行业专家认为，一些 mNAV 低于 1 的苦苦挣扎的 BTC Treasury 公司可能会被更大的公司收购 [2]

Bitcoin Treasury Companies Analysis - The report discusses the meaning of "mNAV" for Bitcoin Treasury companies [1] - The report also highlights where "mNAV" falls short [1] Industry Focus - The report is presented by @GeniusGroupLtd_ [1] - The report is part of BTC Treasuries Month [1]

RT Gareth Jenkinson (@gazza_jenks)Africa's first Bitcoin Treasury company has gone global!I am chatting to @staffordmasie & @wheatley_warren from @AfricaBitCorp about their listing on @OTCMarkets in the USA 🇺🇸Join us now on @Cointelegraph #CHAINREACTIONhttps://t.co/728yrhiB7Q ...

Africa's 1st Bitcoin Treasury Goes Global #CHAINREACTION https://t.co/GIEHuL5uEL ...

RT Gareth Jenkinson (@gazza_jenks)South Africa 🇿🇦 & Africa's 1st Bitcoin Treasury is now trading in the USA 🇺🇸Looking forward to catching up with @staffordmasie & @wheatley_warren from @AfricaBitCorp on Chain Reaction today.Join us on @Cointelegraph - we're live at 2pm CET today! https://t.co/WVLQaaM7xW ...

Core Insights - Companies are increasingly adopting bitcoin treasuries, presenting it as a forward-thinking financial strategy and a hedge against inflation, but this trend may be misleading and lacks genuine value [1][2] - Many firms are using bitcoin as a publicity stunt rather than a serious investment, indicating a lack of innovation and a potential for creating a speculative bubble similar to the ICO craze of 2017 [2][4] Group 1: Corporate Behavior - Corporate treasuries were not intended for speculative activities, and the current trend of adopting bitcoin reflects desperation rather than true innovation [2][3] - Companies with weak fundamentals are using bitcoin as a superficial fix, failing to create real value or sustainable products, resembling "zombie companies" [3][5] Group 2: Market Dynamics - The current environment, characterized by uncertainty and low interest rates, is driving corporate leaders to seek innovative appearances through bitcoin treasuries without addressing underlying business issues [6] - The stakes are higher now than during the ICO boom, as companies are risking shareholder capital by placing bitcoin on their balance sheets, which could lead to systemic risks for various stakeholders [7]

RT Gareth Jenkinson (@gazza_jenks)"Every company needs to become a Bitcoin treasury company because Bitcoin is better money."I sat down with @saifedean for an in-depth chat on the state of Bitcoin and Treasury companies remain a big focal point.Are there too many Bitcoin Treasuries? Here's the TL;DR 👇🥇 @Strategy still has first-mover advantage🏦 Bitcoin's hard money properties are superior to fiat🧠 @saylor pioneered Bitcoin financial arbitrage"You want to make your treasury run on Bitcoin rather than other i ...

Strategies - Bitcoin-treasury firms are shifting beyond simple HODLing, moving into yield strategies, hedging, and even share buybacks [1]

RT Gareth Jenkinson (@gazza_jenks)One year ago, Capital B became Europe's first Bitcoin Treasury Company.To date, @_ALCPB holds 2,818 BTC on its balance sheet. Diluted mNAV sits at 1.48.Can Bitcoin Treasuries dominate Europe? Here are 5 reasons why 🇪🇺 WANTS BITCOIN TREASURIES 👇This clip features key takeaways from Capital B board director of Bitcoin @AlexandreLaizet during our opening panel at @BitcoinConfEUR.🏦 Strong foundation and cap table at launch is crucial💸 @adam3us @FulgurVentures @UTXOmgmt backed💰 ...

Core Viewpoint - Sequans Communications has successfully repurchased 755,349 American Depositary Shares (ADSs), representing approximately 5% of outstanding ADSs, as part of its ongoing strategy to enhance shareholder value through disciplined capital allocation [1][2][4] Group 1: ADS Repurchase Program - The repurchases were executed at an average price of $6.40 per ADS, resulting in a current outstanding ADS count of approximately 15.2 million, or 16.3 million including potential pre-funded warrants [2] - The reduction in outstanding ADSs has generated a 4.4% yield in Bitcoin per outstanding ADS since the company's earnings call on November 4, 2025, showcasing the effectiveness of its capital allocation strategy [2][3] Group 2: Funding and Strategy - The ADS repurchases were funded through proceeds from the sale of Bitcoin and operational funds, indicating a strategic approach to enhance Bitcoin per share [3] - The company aims to continue executing share repurchases at prices below net asset value (NAV) per ADS to create additional value for shareholders [3][4] Group 3: Management's Perspective - The CEO of Sequans, Dr. Georges Karam, emphasized that the current digital asset market conditions present an opportunity to strengthen the balance sheet and advance the Bitcoin Treasury strategy [4] - The company remains committed to reducing debt and executing share repurchases to reinforce its growth strategy and deliver value to shareholders [4] Group 4: Company Overview - Sequans Communications is a leading fabless semiconductor company specializing in 4G/5G cellular technology for IoT and is recognized as a pioneer in Bitcoin Treasury [8] - The company views Bitcoin as a long-term investment and plans to accumulate it as its primary treasury reserve asset, utilizing proceeds from equity and debt issuances as well as operational cash flow [8][9]