ProCap, a Bitcoin treasury firm founded by Anthony Pompliano, has purchased 3,724 Bitcoin valued at approximately $395 million. This acquisition took place shortly after ProCap announced its plans to go public through a $1 billion SPAC deal with Columbus Circle Capital. The Bitcoin was bought at an average price of $103,785 per token. Pompliano stated that Bitcoin represents the new hurdle rate for investments. Following this purchase, ProCap aims to accumulate additional Bitcoin for its treasury as part of its business strategy. The firm raised over $750 million to facilitate its merger plans. This trend of public companies adopting Bitcoin treasuries has been gaining momentum, with notable players like MicroStrategy leading the way. Currently, 245 public companies reportedly hold over $88 billion in Bitcoin, marking a 13% increase in corporate treasury holdings in the past month.

Source đź”—