ProCap BTC, known for its investments in Bitcoin, has announced the purchase of 3,724 Bitcoins for approximately $384 million. This took place shortly after announcing a $1 billion SPAC deal.
ProCap's Bitcoin Purchase
ProCap BTC acquired 3,724 Bitcoins at an average price of $103,785. This investment is on the company's balance sheet, giving potential shareholders direct exposure to Bitcoin's value.
The $1 Billion Deal
The company proposed a merger with Columbus Circle Capital Corp, aiming to combine forces and list on Nasdaq under the name ProCap Financial. ProCap plans to invest up to $1 billion in Bitcoin following the completion of the deal.
Growing Trend of Bitcoin-Buying Companies
Recent weeks have seen an increase in public companies adding Bitcoin to their reserves. Statistics indicate that 136 companies worldwide have purchased 835,053 Bitcoins, totaling $85 billion.
ProCap BTC emphasizes the growing interest among public companies in Bitcoin as an asset for financial stability and growth.
