Just In: Pompliano's ProCap Financial Purchases 3,724 Bitcoin For $386M

Anthony Pompliano’s ProCap Financial has added 3,724 Bitcoin to its balance sheet as it eyes catching up with the industry’s first movers. The acquisition follows a $750 billion capital raise to acquire Bitcoin, with Pompliano pledging to increase ProCap’s holding.

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ProCap Financial Adds 3,724 Bitcoin To Its Holdings

According to a press release, ProCap has purchased its first Bitcoin haul, adding an impressive 3,724 to its holdings Per the statement, the acquisition was completed at a time-weighted average price (TWAP) of $103,785 per BTC, costing the firm $386.6 million.

The acquisition forms part of ProCap Financial’s “bitcoin purchase program,” with the company joining the growing list of Bitcoin treasury companies. With 3,724 BTC on its balance sheet, ProCap Financial will rank in 15th place among public companies with Bitcoin on their balance sheet.

ProCap, launched via a $1 billion merger with Nasdaq-listed Columbus Circle Capital Corp, raised $750 million from investors to pursue a Bitcoin treasury strategy. Pompliano described the ProCap’s $750M raise as the “largest initial fundraise” by a public bitcoin treasury company.

This is a developing story.

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