Anthony Pompliano’s ProCap has purchased another 1,208 Bitcoin at an average price of $105,977 per Bitcoin, increasing their total holdings to 4,932 BTC.
The firm's acquisition was part of its ongoing Bitcoin purchase program following the announcement of a proposed $1 billion business combination with Columbus Circle Capital Corp (CCCM).
Institutional backers like Magnetar Capital and Woodline Partners LP have supported the transaction structure involving $516.5 million in equity and $235 million in convertible notes, providing exposure to Bitcoin through ProCap's deployment strategy.
ProCap plans to continue accumulating Bitcoin, aiming to hold up to $1 billion in Bitcoin on its balance sheet post the proposed business combination, intending to build Bitcoin native financial elements for institutions and capital markets.