On July 17, Volcon, a U.S. electric vehicle company, announced that it would adopt a Bitcoin financial strategy. It has reached a securities purchase agreement with certain institutions and qualified investors to purchase and sell 50,142,851 common shares through private placement at a price of US$10 per share, and total revenue is expected to exceed US$500 million, net of placement agency fees and other issuance expenses (private placement). Emperor led the offer, and participants in the offering include well-known crypto venture capital firms and infrastructure providers such as FalknX, Pantera, Borderless, RK Capital and Relayer Capital, as well as traditional financial investors. The offering is expected to be completed around July 21, 2025, but must meet customary transaction conditions. The company plans to immediately use at least 95% of its total proceeds to acquire Bitcoin, which will serve as the company's main financial reserve asset.