Volcon Inc. to Buy Over $500 Million in Bitcoin with Private Placement Funds
Today, Volcon Inc. (NASDAQ: VLCN) has announced a $500 million private placement to fund a new Bitcoin treasury strategy. The company plans to use at least 95 percent of the proceeds to buy Bitcoin, making it Volcon’s primary treasury 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,” said the co-CEO of Volcon John Kim. “We are excited to work alongside Ryan and Gemini to implement this Bitcoin treasury strategy as our EV business continues to evolve.”
The placement involves the sale of over 50 million shares at $10 each to institutional and accredited investors. Empery Asset Management acted as lead investor, with participation from crypto firms such as FalcolnX, Pantera, Borderless, RK Capital, and Relayer Capital, alongside traditional financial investors.
“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,” stated the co-founder and Managing Member of Empery Ryan Lane. “Three additional members from the Empery team will join Volcon with me to strategically operate this strategy.”
The transaction is expected to close around July 21, 2025. To execute its Bitcoin strategy, Volcon has signed a strategic digital assets services agreement with Gemini Nustar LLC.
“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” said the Director of Strategy at Gemini Rohan Chauhan.
This post Volcon Inc. to Buy Over $500 Million in Bitcoin with Private Placement Funds first appeared on Bitcoin Magazine and is written by Oscar Zarraga Perez.
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