Volcon Inc., (NASDAQ: VLCN), has announced today that it is launching a new website. announced 500 million dollars in private placements to finance a new Bitcoin Treasury Strategy. Volcon plans to purchase Bitcoin with at least 95 per cent of proceeds, which will make it its primary reserve asset.
“In an era of accelerating monetary debasement, holding Bitcoin on our balance sheet represents a strategic move to safeguard shareholder value and align with a digital future,” John Kim, co-CEO at Volcon. “We are excited to work alongside Ryan and Gemini to implement this Bitcoin treasury strategy as our EV business continues to evolve.”
This placement will involve the sale of 50,000,000 shares, each at $10 to accredited and institutional investors. Empery Asset Management was the lead investor with crypto firms like FalcolnX and Pantera as well as traditional investors participating.
“I look forward to working with the Volcon and Gemini teams to operate a low cost, capital efficient, best of breed, Bitcoin treasury strategy reflecting our strong conviction in Bitcoin as the digital store of value for the future,” The co-founder of Empery Ryan Lane and its Managing member, Mr. Ryan Lane. “Three additional members from the Empery team will join Volcon with me to strategically operate this strategy.”
This transaction should close by July 21, 2025. Volcon signed an agreement to provide strategic digital asset services with Gemini Nustar LLC in order to execute its Bitcoin strategies.
“In working with Empery, we are combining their deep expertise in capital markets with Gemini’s leadership in digital asset innovation to unlock new opportunities across the financial landscape” Rohan Chauhan is the director of strategy at Gemini.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: bitcoinmagazine.com
