ProCap, a company founded by Anthony Pompliano, has just purchased 3,724 Bitcoin worth approximately $395 million, shortly after announcing its plans to go public through a $1 billion SPAC deal. ProCap intends to continue acquiring more Bitcoin for its treasury.

This move comes amid a growing number of public companies adopting the strategy of holding Bitcoin as a reserve asset. Michael Saylor's Microstrategy is a pioneer in this trend, currently holding over 592,000 Bitcoin. According to bitcointreasuries.com, there are now 245 public companies holding a total of over $88 billion in Bitcoin.