The post EV Firm Volcon Joins the Bitcoin Treasury Trend with $500M in Capital appeared on BitcoinEthereumNews.com.

Electric vehicle firm Volcon has announced a change in its corporate strategy, revealing plans to adopt a Bitcoin treasury.  The company disclosed this major development through a press release, which confirmed that it secured over $500 million in a private placement offering to support its new Bitcoin-focused treasury approach. Volcon Adopts Bitcoin Treasury with $500M According to the release, Volcon reached a purchase agreement with several institutional and accredited investors, selling over 50 million shares at a price of $10 each.  – Advertisement – Notably, the expected gross proceeds from this transaction exceed $500 million before accounting for agent fees and offering expenses. The company stated that it intends to allocate at least 95% of these funds towards acquiring Bitcoin. The investment round saw major participation from notable crypto venture capital firms and traditional financial institutions. Leading the private placement was Empery Asset Management, joined by firms such as Pantera, RK Capital, Relayer Capital, and FalconX.  Meanwhile, to facilitate the move, Volcon partnered with Gemini Nustar, a Gemini Trust Company affiliate, for digital asset services. Alongside this change, Volcon made several leadership changes. Ryan Lane, co-founder of Empery, was appointed co-CEO and Chairman of the Board. Specifically, three other executives from Empery joined the board to oversee the execution of the new strategy.  VLCN Stock Spikes Also, Volcon noted it would focus on a capital-efficient Bitcoin strategy while maintaining its electric vehicle business through an asset-light model. Co-CEO John Kim highlighted the move as a forward-looking decision to protect shareholder value in a time of rising concerns about fiat currency debasement.  Volcon’s announcement had an immediate impact on its stock. The company’s stock (VLTN) soared by 366%, climbing from $9.22 to a high of $43.38 earlier today. This pattern has played out with other Bitcoin treasury firms in the past.…

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Filed under: News - @ July 18, 2025 1:25 am