As Bitcoin is entering a correction phase with 10% down move from its all-time high of $124,517 on August 14.

The leading cryptocurrency in the world is trading at $110,083 at the time of writing.

Even during this downturn, companies continue to show enthusiasm to add Bitcoin to their treasury. The latest of them is Sequans Communications.

The French semiconductor company has announced a $200 million at-the-market (ATM) equity offering as part of its ambitious Bitcoin treasury strategy.

The 4G and 5G chipmaker disclosed the program in a filing with the US Securities and Exchange Commission on Monday, highlighting its long-term aim to amass 100,000 Bitcoin by 2030.

In this backdrop, Bitcoin Penguins, the meme coin project that has raised more than $4.5 million from its presale, is in its last leg of the presale.

With the presale set to conclude in 23 hours, this is the last chance for investors to jump into Bitcoin Penguins.

Under the planned arrangement, Sequans will be able to issue American Depositary Shares (ADS) — US dollar-denominated equity shares of a foreign company listed on US exchanges — at its discretion.

Proceeds will be directed primarily toward expanding its Bitcoin holdings, making the cryptocurrency a core treasury asset for the Paris-based company.

“We intend to use it judiciously to optimize our treasury, increase Bitcoin per share, and deliver long-term value to shareholders,” Sequans CEO Georges Karam said in a statement.

BitBo’s corporate Bitcoin treasury data shows Sequans currently holds 3,171 BTC, worth approximately $349 million, making it Europe’s second-largest corporate holder after Germany’s Bitcoin Group SE, which owns 12,387 BTC.

If fully executed at current market prices, the $200 million equity program could allow Sequans to purchase an additional 1,814 BTC, bringing its total holdings closer to 5,000 BTC — roughly equivalent to the reserves of US-based Semler Scientific.

Sequans first unveiled its plan to use Bitcoin as a core treasury asset on June 23, joining a growing list of publicly traded companies turning to the cryptocurrency as a hedge against inflation and a long-term store of value.

The number of public firms holding Bitcoin has now climbed to 174, up from fewer than 100 at the start of 2025.

Despite the dip in crypto markets, corporate buyers have continued to accumulate. Strategy, the largest corporate holder of Bitcoin, purchased 3,081 BTC on Monday, raising its total to 632,457 BTC, while Tokyo-based Metaplanet acquired 103 BTC at the start of the week.

Alongside the surge in corporate Bitcoin adoption, new crypto projects like Bitcoin Penguins are capitalising on market momentum.

The project’s presale will close in less than 24 hours on August 27, prompting investors to rush in to grab the cryptocurrency.

The token is set to list on decentralised exchanges on September 2.

Positioned as a hybrid of Bitcoin’s scarcity narrative and the playful, community-driven appeal of penguin-themed tokens, BPENGU aims to tap into both institutional and retail enthusiasm.

Its tokenomics include a capped supply of 10 billion tokens, with 55% allocated to presale buyers to ensure scarcity and make sure the investments don’t get concentrated in a few hands.

The moves by Sequans and BPENGU reflect broader themes in today’s crypto market.

On one side, established companies are integrating Bitcoin into their balance sheets as a treasury reserve.

On the other hand, newer projects like Bitcoin Penguins are blending Bitcoin’s scarcity-driven narrative with the viral potential of meme coins to attract retail participation.

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