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VLCN
StockNews.AI
22 days

Volcon Acquires 317 Additional BTC and Now Holds Over 3,500 BTC

1. VLCN has acquired an additional 316.8 BTC, totaling 3,500.18 BTC held. 2. Total investment in BTC is approximately $412 million, averaging $117,683 each.

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-10.45%Current Return
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-0.32%S&P 500
$13.407/28 09:07 AM EDTEvent Start
$1207/29 03:48 PM EDTLatest Updated
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FAQ

Why Bullish?

The increased BTC holdings may enhance VLCN's asset value, similar to other firms benefiting from crypto investments. Historically, companies diversifying into cryptocurrency have seen positive market reactions, boosting their stock value.

How important is it?

VLCN's Bitcoin strategy aligns with current trends in crypto, likely drawing investor interest. Acquisitions of BTC indicate potential for value growth amidst positive market conditions.

Why Short Term?

Immediate market sentiment may respond favorably, given the volatile nature and growing interest in cryptocurrencies. For instance, similar announcements by firms have led to short-term spikes in share prices.

Related Companies

BTCTSLARIOTMARA
AUSTIN, Texas--(BUSINESS WIRE)---- $VLCN #BTC--Volcon, Inc. (NASDAQ: VLCN). (the “Company,” “Volcon” or “Empery Digital”) today announced updates to its bitcoin acquisition strategy and current holdings. Since its last update on July 25th, the company has acquired an additional 316.8 BTC for a total purchase price of $37.3 million. As of the time of this release, the Company holds 3,500.18 BTC acquired for an aggregate purchase price of ~$412 million, reflecting an average effective purchase price of $117,683.

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