Procap BTC, the native Bitcoin native financial services company led by entrepreneur Anthony Possano, said he bought 1,208 bitcoin
One day after announcing a purchase of $ 385 million in the largest cryptocurrency.
The company said it had paid an average of $ 105,977 for each token, evaluating the transaction at $ 128 million. With this decision, the company now has a total of 4,932 Bitcoin, which recently recovered $ 108,000.
The acquisition comes two days after Procap BTC announced its intention to make public thanks to a combination of companies of $ 1 billion with Columbus Circle Capital Corp. (CCCM). Once finished, the company will be renamed Procap Financial, Inc.
The purchase of Bitcoin underlines the strategic commitment of Procap to regularly develop its BTC stock. By immediately deploying capital raised at the signing, the company delivered an instant Bitcoin exposure to equity investors, strengthening its Bitcoin investment thesis.
Procap said that he considered Bitcoin not only as an asset, but as a basic financial reference, which he calls “the new obstacle rate”. The company reported that it would continue to buy Bitcoin as part of its balance sheet strategy and plans to contain up to $ 1 billion in BTC at the time of the public list.
