US-listed company Volcon increases its holdings by 316.8 BTC, total holdings surpass 3,500 BTC
Foresight News reports that Nasdaq-listed company Volcon (Nasdaq ticker: VLCN) has announced the purchase of an additional 316.8 bitcoins since July 25, with a total purchase price of $37.3 million. As of press time, the company holds 3,500.18 bitcoins, with a total investment of approximately $412 million and an average purchase cost of $117,683 per bitcoin. The company has reduced its bitcoin acquisition cost through derivatives strategies and has also sold some short-term put options with strike prices ranging from $115,000 to $118,000.
Volcon has been renamed Empery Digital Inc. and has transferred its bitcoin holdings to segregated cold storage. Previously, the company completed a $500 million private placement and plans to allocate over 95% of the funds to bitcoin acquisitions.
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