Volcon, a US-listed electric car company, has announced its first acquisition of 280.14 bitcoins. The company has also completed over $500 million in private financing to support this purchase. The financing involved issuing 50,142,851 common shares at $10 each, with Empery leading the round. Participants included crypto venture capital firms and traditional financial institutions such as FalconX, Pantera, Borderless, RK Capital, and Relayer Capital. This move aligns with Volcon's strategy to incorporate Bitcoin into its reserve asset allocation.