American car manufacturer ECD Automotive Design raised $500 million to establish a Bitcoin reserve, and ECDA once surged by 236%.

ECD Automotive Design, a Florida auto tuning plant in the United States, announced on June 23 that it would use $500 million in equity financing to build a bitcoin vault, which encouraged the stock price to soar. (Synopsis: Nakamoto's partner medical company KindlyMD added $51.5 million to bitcoin, NAKA has risen nearly tenfold this year) (Background supplement: Texas governor officially signs the Bitcoin Reserve Act SB 21, the United States welcomes the third state-level BTC reserve) ECD Automotive Design, a Florida auto tuning plant in the United States, announced on June 23 that it will use $500 million in equity financing to build a bitcoin vault, motivated by this news, The company's shares rose sharply after the U.S. stock market opened. $500 million in financing goes straight to the "Bitcoin vault" According to the press release, ECD and ECDA Bitcoin Treasury LLC have signed an equity financing agreement of up to $500 million, which can be divided into new shares according to capital needs. The company emphasized that the primary purpose of the funds is to buy bitcoin directly in the open market, and the remaining funds are used to cover operating and general expenses. At present, the new share issuance still needs to be registered with the U.S. Securities and Exchange Commission (SEC) to take effect. In addition, ECD will also expand cooperation with BitPay to open up BTC, ETH and other cryptocurrencies to pay for classic Land Rover Defender, Jaguar E-type and other customized cars. What's even more striking is that the first 21 customers who check out with Bitcoin in the next 12 months will receive an optional $21,000 upgrade credit. The company hopes to channel on-chain wealth into physical assets, so that buyers who value scarcity can show their identity in the process of "changing cars". Motivated by this news, ECD Automotive Design (ECDA) shares soared as high as $0.72 yesterday (23), up 236%. However, at the moment of writing, ECDA has fallen sharply to $0.35, up 14.22% in the past five days. What is ECD Automotive Design? ECD Automotive Design is a public company specializing in the restoration and customization of luxury vehicles, especially Land Rover Defenders, Range Rovers, Jaguar E-Types, Ford Mustangs and Toyota FJ. Founded in 2013 by three British car enthusiasts, the company is headquartered in Kissimmee, Florida, and owns a 100,000-square-foot factory called Rover Dome. ECD combines the look and feel of a classic car with modern performance, offering repairs, upgrades and extended warranties. The company is expanding the market through retail showrooms, mobile design studios, and innovative payment methods such as accepting cryptocurrencies via BitPay. In 2024, ECD reported revenue of $25.2 million, up 29% from 2023. Related reports Taiwan's Financial Regulatory Commission approves "bitcoin custody", 3 banks of KGI, CITIC and the federal government preemptively try it The French parliament rejects "bitcoin mining" as a solution to the low peak capacity of nuclear power Founder of Tianqiao Capital: The boom of enterprises issuing bonds to buy BTC will eventually subside, and excessive speculation may eat back bitcoin (American car factory ECD Automotive Design raised $500 million to build bitcoin reserves, and ECDA jumped 236% at one point) This article was first published in BlockTempo The most influential blockchain news media.