ProCap BTC, a Bitcoin-native financial services firm founded by Anthony Pompliano, acquired 3,724 Bitcoins at an average price of $103,785.
The Bitcoin purchase is valued at around $384 million, providing exposure to the cryptocurrency's price for future shareholders.
ProCap plans to invest up to $1 billion in Bitcoin after finalizing a SPAC deal with Columbus Circle Capital Corp.
The company raised over $750 million through equity and debt sales, marking a significant initial fundraise for a public bitcoin treasury company.
ProCap's move to acquire Bitcoin follows a trend among public companies, with notable examples like Trump Media and GameStop adding Bitcoin to their balance sheets.
According to Bitcoin Treasuries data, 136 public companies globally hold 835,053 Bitcoins worth $85 billion, with Michael Saylor's Strategy leading with 592,345 BTC.
Bitcoin was trading around $106,128 at the time of publication, marking a 3.6% increase in the last day.