Volcon Inc. is actively increasing its investments in Bitcoin, revealing significant cryptocurrency holdings and a stock buyback program.
Volcon's Bitcoin Asset Volume
Volcon Inc. holds 3,183 Bitcoin, valued at approximately $375 million. The average purchase price for Bitcoin stood at about $117,697 per unit.
Options Strategy for Acquiring Bitcoin
The company is actively selling short-term put options, which could allow it to acquire more Bitcoin at prices lower than the current market. This indicates a confident approach by Volcon towards increasing its BTC holdings.
Stock Buyback Program and Its Impact
Volcon has also expanded its stock buyback program to $100 million over the next two years. This decision aims to support net asset value and Bitcoin per share metrics, enhancing the relative value of remaining company shares.
Volcon's approach to accumulating Bitcoin assets and the stock buyback program underscore its commitment to strengthening its market position in cryptocurrency.
