TLDR
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Volcon soars 203% as it pivots from EVs to Bitcoin treasury strategy
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Volcon raises $500M to buy Bitcoin, stock rockets over 200% intraday
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EV maker Volcon pivots to crypto, plans $500M Bitcoin reserve move
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Volcon ditches fiat, adopts Bitcoin as core asset in $500M stock sale
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Bitcoin bet sends Volcon stock surging, shifting from EVs to crypto
Volcon, Inc. (NASDAQ: VLCN) shares surged over 203% intraday after announcing a $500 million private placement to acquire Bitcoin. The stock opened sharply higher and briefly topped $60 before settling near $28 in late morning trading. This strategic move positions Bitcoin as the company’s primary treasury reserve asset, marking a bold shift in direction.
$500M Private Placement Triggers Volcon Surge
Volcon confirmed the sale of over 50 million shares at $10 each to institutional and accredited participants in a private placement. The company expects gross proceeds exceeding $500 million, subject to standard closing conditions by July 21, 2025. This capital injection will fund a Bitcoin-focused reserve strategy, shifting Volcon’s treasury away from fiat.
JUST IN: Volcan Inc has initiated a Bitcoin Treasury Strategy, funded by a $500m stock sale
Corporate Bitcoin adoption continues to accelerate 🔥 pic.twitter.com/cKqp7JC6sW
— Bitcoin Archive (@BTC_Archive) July 17, 2025
Empery Asset Management led the round, joined by crypto-focused entities like FalcolnX, Pantera, Borderless, RK Capital and Relayer Capital. Traditional financial participants also supported the offering, signaling strong institutional demand for the digital shift. Volcon’s updated approach reflects mounting corporate interest in decentralized reserves as a hedge against inflation.
Clear Street LLC acted as lead placement agent, while Aegis Capital Corp. served as co-placement agent and advisor. The offering was made under Section 4(a)(2) and Regulation D, exempt from SEC registration. A registration rights agreement ensures a resale path for the securities post-closing.
Bitcoin to Become Core Reserve Asset
Volcon plans to allocate at least 95% of the proceeds to buy Bitcoin for long-term holding. This marks a significant departure from traditional capital management models within the electric vehicle sector. The company signed a strategic agreement with Gemini Nustar LLC to secure custody and operational support.
Volcon appointed four new board members, including Ryan Lane of Empery, who will help oversee the treasury strategy. Lane will join alongside three other Empery members to manage Bitcoin acquisition and integration. This board expansion aims to bring digital asset expertise directly into corporate decision-making.
By adopting Bitcoin as its reserve asset, Volcon positions itself as a pioneer among U.S.-listed EV manufacturers. The move underscores its belief in Bitcoin as a long-term store of value. Management views the strategy as a safeguard against currency depreciation and a path to financial efficiency.
Company Shifts from EV Focus to Digital Asset Integration
Founded in Austin, Texas, Volcon began as an all-electric powersports company targeting outdoor recreation markets. Its products emphasized sustainability and quiet, emission-free performance for enthusiasts. However, the recent pivot highlights a broader ambition beyond vehicle manufacturing.
This treasury strategy signals a broader corporate identity shift toward digital financial infrastructure. While the EV business remains active, Bitcoin will now play a central role in its capital management. The company expects this dual-track strategy to offer greater shareholder value.
Volcon’s actions reflect a growing trend among public firms leveraging crypto assets as strategic financial instruments. By acting decisively, the company has attracted attention across equity and crypto markets. The focus now shifts to execution as the closing date approaches.
