- Volcon inventory soared 135% after saying a $500M non-public placement, with 95% of the funds going towards constructing a Bitcoin treasury.
- The deal is backed by main companies like Empery, Pantera, and FalconX, signaling rising institutional confidence in BTC as a treasury asset.
- Regardless of a $45M loss in 2024, Volcon is shifting focus from electrical off-road autos to digital asset accumulation, following the playbook of corporations like Technique Inc.
Properly, that escalated rapidly. Shares of Volcon, the Texas-based electrical automobile firm, rocketed almost 135% on Thursday after it dropped a bombshell: it’s elevating $500 million to load up on Bitcoin. Yep—95% of that money goes straight into BTC, making Volcon the most recent in a rising crew of corporations flipping their treasuries into crypto mode.
In a personal placement deal, Volcon’s promoting over 50 million shares at $10 apiece. And in case you’re questioning why a powersports agency immediately needs to go digital exhausting—Co-CEO John Kim summed it up: “In an period of accelerating financial debasement, holding Bitcoin on our steadiness sheet represents a strategic transfer to safeguard shareholder worth and align with a digital future.” Daring phrases.
Losses, Volatility… and Now BTC?
It’s a daring guess for a agency that reported a whopping $45M web loss in 2024. Shares had already taken a success this yr—down greater than 35% earlier than the BTC information lit the rocket. However now? Volcon’s becoming a member of the Bitcoin treasury membership, chasing the playbook popularized by Michael Saylor’s Technique Inc., which sits on a $72B BTC stack.
Altogether, over 140 corporations now maintain a collective $102.2 billion in Bitcoin, in accordance with bitcointreasuries.web. Technique owns most of that pie. Others like SharpLink and DeFi Dev Corp are leaning into Ethereum and Solana as a substitute, diversifying the “digital vault” development.
Who’s Bankrolling the Bitcoin Pivot?
Volcon’s large BTC buy-in is backed by some notable names—Empery Asset Administration is main the funding spherical, with assist from FalconX, Pantera Capital, Borderless, RK Capital, and Relayer. The deal is predicted to shut by July 21, if every part goes easily.
To be clear, this isn’t some tech startup pivoting to crypto. Volcon builds rugged off-road electrical autos. Its lineup? The “Brat,” a chunky metropolis commuter that kinda seems to be like a bike, and the “Grunt” e-bike, geared toward hunters and outside lovers. So yeah, not your typical crypto-native workforce.
Crypto Heating Up Throughout the Board
Oh, and whereas we’re right here—Bitcoin is hovering round $120,200, up 3% over the previous week. Not dangerous contemplating the chop. In the meantime, BlackRock’s making its personal strikes, submitting so as to add staking to its Ethereum ETF, ETHA. Meaning extra ETH, extra yield, extra consideration—bullish stuff total.
So, again to Volcon. Will this Bitcoin treasury gamble repay? Too quickly to say. However judging by the inventory’s explosive transfer and the sudden rush of massive names into the deal, the market’s clearly intrigued.