Anthony Pompliano's ProCap has strategically acquired 1,208 more Bitcoin, raising their total to 4,932 BTC, following a $1 billion business combination plan with Columbus Circle Capital Corp. This acquisition is part of ProCap's ongoing Bitcoin purchase program, ensuring immediate exposure for equity investors. Supported by notable institutional backers, the company is set to hold up to $1 billion in Bitcoin post-combination, positioning it as a leader in corporate Bitcoin holdings. ProCap views Bitcoin as a critical financial benchmark in its investment philosophy.
ProCap BTC, LLC believes Bitcoin is the new hurdle rate. If you can't beat it, you have to buy it, showing their conviction to hold BTC.
ProCap's strategy aims for a $1 billion Bitcoin treasury, potentially marking the largest holding by a public company upon completing their business combination.
Institutional investors like Magnetar Capital and Blockchain.com back ProCap, securing immediate Bitcoin exposure through a $516.5 million equity and $235 million convertible notes plan.
The recent purchase of 1,208 Bitcoin at $105,977 each boosts ProCap's total holdings to 4,932 BTC, driving immediate exposure for equity investors.
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