ProCap announces a significant increase in its Bitcoin assets. The recent purchase adds to its reserves and discloses plans for a public listing.
Purchase of 1208 BTC
ProCap has completed the purchase of 1208 BTC worth $128 million. The entire asset was acquired at an average price of $105,977 per Bitcoin, bringing their total Bitcoin holdings to 4932 BTC.
Plans for Public Listing
This announcement comes as ProCap plans to go public through a $1 billion merger with Columbus Circle Capital Corp. Once finalized, the combined entity will operate under the name ProCap Financial, Inc.
ProCap's Accumulation Strategy
ProCap is taking active steps to accumulate Bitcoin, underscoring its commitment to building a Bitcoin-native financial institution. This strategy aligns with Bitcoin's price recovery, which recently surpassed the $107,000 mark.
Thus, ProCap continues to demonstrate its commitment to Bitcoin by increasing its assets and preparing for a public market entry.
