Volcon Don Raise $500M To Build Bitcoin Reserves Inside Treasury
Volcon, wey dey list for Nasdaq as electric vehicle maker, don raise $500 million to build im Bitcoin reserves as some kind strategy to diversify corporate treasury. Di company use over 95% of di money wen dem raise to buy 280.14 BTC, including 235.83 BTC wey dem get through new share subscriptions. Dis increase for Bitcoin reserves na to protect against inflation and to find long-term appreciation for digital assets. E follow wetin MicroStrategy and Tesla dey do for institutional adoption of Bitcoin. Main risks na Bitcoin price dey shake, new regulation wey dey come, cybersecurity wahala, and accounting rules wey dey treat Bitcoin like intangible asset. Traders suppose watch how market mind dey change and how corporate treasury inflows dey rise, because e fit help stabilize Bitcoin price and push long-term growth.
Bullish
Di tok say Volcon don put over 95% of di $500 million we dem raise inside Bitcoin reserve na show say institutions dey get more interest. Dem buy 280.14 BTC, wey include 235.83 BTC from new subscriptions, fit make BTC supply tight. For short term, dis better vibe fit make di price rise. For long term, if company treasury start take am, e go boost market confidence and help Bitcoin grow. But still, price fit dey waka anyhow, laws fit change, and security issues fit still be wahala.