Volcon Inc. (NASDAQ:VLCN) is doubling down on its pivot to Bitcoin, revealing that it now holds over 3,183 Bitcoin (CRYPTO: BTC/USD) on its balance sheet, valued at roughly $375 million as of July 25. The company, which has roots in electric off-road vehicles, is now embracing a treasury strategy built around digital assets.
Co-CEO Ryan Lane said the move signals Volcon’s belief in Bitcoin as a resilient long-term asset and a smart reserve choice. As of 8 a.m. ET on Thursday, Volcon had acquired 3,183.37 BTC at an average cost of $117,697 per coin.
Alongside its aggressive crypto acquisition, Volcon’s board approved a sizable increase to its stock buyback program, raising the limit …