ProCap BTC Acquires 3,724 Bitcoin Following $775 Million Capital Raise
ProCap BTC, founded by Anthony Pompliano, is actively investing following a $1 billion merger with Columbus Circle Capital Corp. and a $775 million capital raise.
- Purchased 3,724 bitcoin at an average price of $103,785 per coin.
- Initiated a treasury program that may reach $1 billion in bitcoin post-SPAC transaction.
- Raised $550 million through preferred equity and $225 million in convertible notes.
- Would rank as the 14th largest BTC holder among publicly listed companies if traded.
- Claims bitcoin is the new “hurdle rate” for capital deployment.
- Aims to leverage bitcoin for yield-generating strategies.