Another Nasdaq-Listed EV Company Joins Tesla As Bitcoin Holder: Here's Who (And How Much It Bought)
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Electric vehicle company Volcon Inc. (VLCN) has announced it holds 3,183.37 Bitcoin, purchased for approximately $375 million. This positions Volcon as a significant corporate Bitcoin accumulator. The company has also sold short-term Bitcoin put contracts to potentially acquire more BTC while generating income. Additionally, Volcon has approved a $100 million share buyback program to support share value and increase the BTC-per-share ratio. This move aligns with a trend of companies using Bitcoin as a treasury reserve asset, following leaders like MicroStrategy and Tesla.
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