What is the current news on its bitcoin

Here is the current news on Volcon's Bitcoin: 1. **Strategic Pivot to Bitcoin**: Volcon has announced a $500 million private placement to fund a new Bitcoin treasury strategy. The company plans to use at least 95% of the proceeds to buy Bitcoin, making it Volcon’s primary treasury reserve asset. 2. **Partnership with Gemini Nustar**: Volcon has entered into a Strategic Digital Assets Services Agreement with Gemini Nustar LLC to execute its Bitcoin strategy. This partnership is expected to strengthen Volcon's commitment to integrating digital asset management into its business model. 3. **Expected Closing Date**: The transaction is expected to close around July 21, 2025. 4. **Stock Reaction**: Volcon's stock (VLTN) experienced a significant surge, climbing from $9.22 to a high of $43.38, an increase of over 300% following the announcement. 5. **Market Position**: Volcon's strategic move positions it among a growing group of companies integrating Bitcoin into their financial strategies, reflecting a trend that gained attention with MicroStrategy’s Bitcoin playbook. In conclusion, Volcon has made a significant move toward adopting Bitcoin as a primary treasury reserve asset. The company's partnership with Gemini Nustar and the appointment of Ryan Lane, co-founder and Managing Member of Empery Asset Management, signify a strong commitment to integrating digital asset management into its business model. The expected closing of the transaction and the stock's reaction to the announcement highlight the market's enthusiasm for Volcon's Bitcoin-focused strategy.