ProCap Makes History: $1B Bitcoin Treasury Fuels Public Debut as Strategy Scoops Up 245 BTC
Wall Street meets crypto in a blockbuster move—ProCap just became the first major firm to go public with a billion-dollar Bitcoin war chest. Meanwhile, their aggressive accumulation strategy keeps stacking sats like there's no tomorrow.
The Bitcoin Bet That's Shaking Traditional Finance
While hedge funds dither over ETF approvals, ProCap's all-in BTC play looks like a masterclass in conviction. That fresh 245 BTC purchase? Just pocket change for a company treating Bitcoin like its personal reserve currency.
A Treasury Strategy That Would Make MicroStrategy Blush
Forget bonds and T-bills—ProCap's balance sheet is now 80% digital gold (and 100% volatile). Because nothing says 'financial innovation' like backing your IPO with an asset that can swing 20% before lunch.
One question remains: Is this visionary corporate strategy... or the ultimate 'when lambo?' flex for institutional investors? Either way, the suits will never look at treasury management the same again.
ProCap plans public listing with $1 billion Bitcoin treasury
ProCap BTC is set to go public through a merger with Columbus Circle Capital, following a fundraising effort that it claims is the largest for a public Bitcoin treasury company.
Anthony Pompliano revealed in an X post on Monday that the combined company will operate as ProCap Financial, with up to $1 billion worth of bitcoin on its balance sheet. He noted that the company has raised $750 million from investors, comprising $516.5 million through equity financing and an additional $235 million via 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," said Anthony Pompliano in a press release.
The MOVE comes as more crypto-focused entities seek to go public, following the footsteps of companies like Circle, which listed on the New York Stock Exchange (NYSE) earlier in the month. It also highlights the increased demand for Bitcoin exposure among institutional investors.
"ProCap Financial represents our solution to the increasing demand for bitcoin-native financial services among sophisticated investors," Pompliano added.
Michael Saylor popularized the Bitcoin treasury playbook through business intelligence firm Strategy, which has not relented in stacking BTC since 2020.
Strategy announced it purchased an additional 245 BTC for $26 million at an average price of $105,856 per BTC last week. The company now holds 592,345 BTC, more than 2.8% of Bitcoin’s total supply.
Meanwhile, Japanese firm Metaplanet also disclosed on Monday that it purchased 1,111 BTC for roughly $117 million, boosting its total holdings to 11,111 BTC. The purchase aligns with the company's recently announced plan to own 1% of Bitcoin's total supply — approximately 210,000 BTC — by 2027.
Bitcoin is trading NEAR $103,100, up 4% over the past 24 hours.
