6 hours ago
ProCap BTC, a cryptocurrency fiscal services steadfast founded by capitalist Anthony Pompliano, wasted nary clip putting caller wealth to work.
Less than 24 hours after revealing a $1 cardinal merger with Columbus Circle Capital Corp. (CCCM) and a abstracted $775 cardinal superior raise, the steadfast snapped up 3,724 bitcoin BTC astatine a time-weighted mean terms of $103,785 per coin.
The acquisition kicks disconnected a treasury programme that could swell to $1 cardinal successful bitcoin erstwhile the SPAC transaction closes and the combined company, to beryllium called ProCap Financial, lists connected Nasdaq.
It comes aft the institution revealed it raised $550 cardinal done a preferred equity offering and an further $225 cardinal successful convertible notes. If the institution was already publically traded, it would fertile arsenic the 14th biggest BTC holder among listed companies, conscionable beneath Semler Scientific, according to Bitcointreasuries.com.
PropCap BTC has argued that bitcoin is present the caller “hurdle rate” for superior deployment. “If you can’t bushed it, you person to bargain it,” it wrote successful a property release.
The steadfast plans connected leveraging its bitcoin successful yield-generating strategies.
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