🔥 ProCap Prepares $1B Bitcoin Treasury IPO — Adds 245 BTC in Strategic Move!
Anthony Pompliano's ProCap BTC will join with Columbus Circle Capital to go public.
After raising $750 million from investors, the new corporation hopes to hold a $1 billion Bitcoin treasury.
Strategy added 245 BTC, worth $26 million, to its coffers.
After ProCap BTC announced a merger with Nasdaq-listed Columbus Circle Capital (CCCM) to go public as ProCap Financial, Bitcoin (BTC) trades over $103,000 on Monday. BTC in the new company's treasury might reach $1 billion.
ProCap seeks a $1 billion IPO. In Bitcoin Treasury
After obtaining the most money for a public Bitcoin treasury, ProCap BTC will join with Columbus Circle Capital to become public.
On Monday, Anthony Pompliano said in an X post that the merged business would be ProCap Financial and hold up to $1 billion in Bitcoin. He said the business raised $750 million from investors, $516.5 million in stock and $235 million in convertible notes.
"Our objective is to develop a platform that will not only acquire bitcoin for our balance sheet, but will also implement risk-mitigated solutions to generate revenue and profits from our bitcoin holdings," stated Pompliano in a news statement.
The move follows Circle's listing on the NYSE earlier this month as more crypto-focused firms seek to go public. It also shows institutional investors' growing Bitcoin exposure.
"ProCap Financial represents our solution to the increasing demand for bitcoin-native financial services among sophisticated investors," he said.
Michael Saylor's business intelligence company Strategy has stacked Bitcoin since 2020, popularizing the Bitcoin treasury playbook.
Last week, Strategy bought 245 BTC for $26 million at $105,856 each. The corporation possesses 592,345 BTC, exceeding 2.8% of Bitcoin's supply.
Metaplanet, a Japanese company, also bought 1,111 BTC for $117 million on Monday, bringing its total to 11,111 BTC. The acquisition supports the company's ambition to acquire 1% of Bitcoin's supply (210,000 BTC) by 2027.
