5 days ago
Cryptocurrency Live News & Updates : Volcon Invests Heavily in Bitcoin Amid Market Peaks
25 Jul 2025 | 11:55:12 PM IST
Volcon Inc. has acquired 3,183 Bitcoin at an average price of $117,697 each, opting to increase its exposure rather than hedge against potential losses. Volcon Inc., recently rebranded as Empery Digital, is making headlines by holding a substantial Bitcoin treasury valued at approximately $375 million, acquired at peak prices. This strategy contrasts with earlier adopters like Strategy, which capitalized on lower prices. Meanwhile, the cryptocurrency market is witnessing significant movements, with BONK testing critical support levels, and MANA trading within a long-standing range, indicating a cautious market sentiment. Additionally, the tokenization of money market funds is gaining traction, driven by the rise of stablecoins and recent legislative changes like the US GENIUS Act. This act aims to enhance digital dollar usage and could bolster the competitiveness of traditional funds. Galaxy Digital's CEO, Mike Novogratz, predicts Ethereum will outperform Bitcoin in the near future, highlighting a shift in corporate treasury strategies towards Ethereum, as evidenced by increasing institutional interest and ETF inflows. As the landscape evolves, these developments reflect a dynamic interplay between traditional finance and the burgeoning cryptocurrency market. Show more
