ECD Automotive Design, Inc. has secured a substantial $500 million equity facility aimed at accumulating Bitcoin as a primary reserve asset and supporting corporate growth initiatives.

ECD plans to further engage with the Bitcoin and digital asset communities, focusing on creating value for shareholders while maintaining its luxury vehicle restoration focus.

The facility enables ECD to issue and sell up to $500 million in new shares of common stock under specific conditions, although the company is not obligated to utilize the entire amount.

With this funding, ECD plans to acquire Bitcoin as a reserve asset while also allocating some resources to general corporate purposes.

The Florida-based company, known for its expertise in restoring Land Rovers and Jaguars, aims to diversify its treasury strategy by incorporating Bitcoin.

This strategic financing is part of ECD's initiative to engage with the Bitcoin community and promote digital assets as investments in premium real-world assets, such as classic cars.

As part of its push into the cryptocurrency space, ECD is offering a promotional incentive of $21,000 in upgrade credits to the first 21 customers who purchase vehicles using Bitcoin.

The company has already integrated with BitPay to accept cryptocurrency payments for its luxury vehicles, including bespoke Defenders and Jaguar E-Types.

Ben Piggott, CFO of ECD, expressed enthusiasm about the financing, emphasizing its potential to diversify the company's treasury with Bitcoin and enhance shareholder value.

Currently, 243 public companies hold Bitcoin, reflecting a growing trend among publicly traded firms to adopt Bitcoin-based treasuries.

This strategic move is designed to attract wealthy crypto investors and diversify the company's treasury strategy, despite potential risks such as share dilution and regulatory scrutiny.

Founded in 2013 and traded on NASDAQ under the ticker ECDA, ECD Automotive Design specializes in restoring and customizing luxury vehicles, particularly classic models.