[Sequans Sells 970 Bitcoins to Reduce Debt, Stock Price Drops 16%] According to Golden Finance, semiconductor company Sequans sold 30% of its Bitcoin holdings to redeem half of its convertible debt. The company described this move as a 'strategic asset reallocation.' Following the news, the company's stock price fell by more than 16%. Sequans CEO Georges Karam stated on Tuesday: 'Our Bitcoin reserve strategy and strong belief in Bitcoin remain unchanged. This transaction was a tactical decision made to unlock shareholder value based on the current market environment.' The sale reduced the company's Bitcoin holdings from 3,234 BTC to 2,264 BTC, deviating from its goal of accumulating 100,000 BTC over the next five years. The proceeds from the sale were used to reduce the company's outstanding debt from $189 million to $94.5 million.