ProCapS Swift Bitcoin Acquisition After SPAC Deal
Anthony Pompliano wasted no time. Just a day after his ProCap’s $1 billion SPAC deal, the company bought 3,724 Bitcoins. This move secures Bitcoin exposure for investors quickly.
ProCap BTC, LLC acquired the coins at an average price of $103,785 each. The purchase, worth about $387 million, came from a $750 million capital raise. This bold move shows ProCap’s commitment to Bitcoin.
ProCap plans to keep all the Bitcoin on its balance sheet.
ProCap’s strategy is clear: Bitcoin is not just an asset but a benchmark. The company believes its the new standard for capital deployment. This isn’t just talk. Since 2020, companies holding Bitcoin have outperformed cash-heavy peers. microstrategy, a leading adopter, saw its stock soar over 3,000% due to its Bitcoin holdings.
ProCap is taking this playbook further. It’s not just accumulating Bitcoin; it’s building financial infrastructure around it. this move signals a shift from traditional finance’s cautious approach to embracing Bitcoin as a core financial asset.
