Procap is aiming for billion engagement in Bitcoin-entry with $ 386 million
- Procap bought 3,724 BTC for $ 386 million and pursues the goal of a 1 billion in the middle of the Bitcoin financial boom.
- Spac fusion joins a number of companies that consider Bitcoin’s hoarding as an unegamental end in itself.
Anthony Pompliano’s investment company Procap, entered the Bitcoin Arena with a $ 386 million shopping, which expanded the balance by 3,724 BTC. Shortly after the company announced the intention to go to the stock exchange via a Spac- (Special Purpose Acquisition Company) Fusion with Columbus Circle Capital.
The purchase price was $ 103,785 per BTC, and the value of the portfolio is almost $ 400 million due to a subsequent price increase. Procap wants to significantly expand this position and strives to keep a billion dollars in Bitcoin in the near future.
Pompliano confirmed this plan in an explanation to X and said,
“We believe that Bitcoin is the new hurdle. If you can’t beat it, you have to buy it”
The step is part of an increasing trend in which companies convert part of their assets into cryptocurrencies as a long -term investment.
Procap strives for the IPO with $ 750 million support
Procap has merged with Columbus Circle Capital to prepare the stock market. The transaction is financed with a capital of $ 750 million, which is made up of $ 516 million equity and $ 235 million convertible bonds. If Procap would go to the stock exchange today, according to Bitbo statistics, the company would be just behind Semler Scientific the 14th largest public bitcoin holder.
The SPAC structure, which is usually used to bring private companies to the stock exchange, makes it easier for Procap to get started with the stock market. The merger is the core element of the company’s growth strategy to expand its Bitcoin stocks and its presence in the field of financial services for digital assets.
Other companies have recently taken similar steps. Grant Cardone announced that he bought 1,000 BTC for the treasury of his company, while Strategy and Metaplanet increased their reserves to 592,345 BTC or 11,111 BTC. These measures indicate a broader institutional demand for cryptocurrency stocks.
Bitcoin treasuries continue to grow across industries
Procap’s entry into this area contributes to a trend in which companies from various industries include Bitcoin in their company balance sheets. Panther Metals, known for mineral expression, announced a plan for the integration of traditional mining and cryptocurrencies with the aim of a Bitcoin acquisition worth $ 5.4 million.
Green Minerals, a deep-sea mining company based in Norway, went one step further when it announced a massive Bitcoin purchase plan worth $ 1.2 billion. These initiatives lead to a quick accumulation of BTC in the division.
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