The US-listed company Volcon plans to raise $500 million, with 95% of the funds intended for purchasing Bitcoin

2025-07-17 21:21:53

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ChainCatcher news, according to Business Insider, the U.S. listed electric vehicle company Volcon (NASDAQ: VLCN) announced over $500 million in private financing, planning to use at least 95% of the funds to purchase Bitcoin as the company's primary reserve asset. This financing is led by Empery Asset Management, with participation from well-known crypto venture capital firms such as FalcolnX, Pantera, and Borderless.

Volcon's co-CEO John Kim stated that holding Bitcoin is a strategic move to protect shareholder value in an era of accelerating currency devaluation. The transaction is expected to be completed on July 21.

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