Key Points:

• ProCap BTC, LLC has bought 1,208 BTC, bringing its total holdings to 4,932 BTC.
• The company acquired these tokens at an average price of $105,977 each, totaling $128 million.
• Plans to hold up to $1 billion in Bitcoin ahead of its public listing.

ProCap BTC, a bitcoin-centered financial services provider led by entrepreneur Anthony Pompliano, announced its acquisition of 1,208 bitcoin shortly after its previous $385 million purchase. The firm stated that the average cost of the tokens was approximately $105,977, which equates to a $128 million transaction. This brings their cumulative total to 4,932 bitcoin, as the cryptocurrency’s price recently exceeded $108,000.

This acquisition follows an announcement regarding ProCap BTC’s intent to go public, aiming for a $1 billion business combination with Columbus Circle Capital Corp. Upon completion, the company will be rebranded as ProCap Financial, Inc.

ProCap’s assertive bitcoin purchasing reflects its strategic focus on building significant BTC reserves as part of its financial growth strategy. The firm believes in treating bitcoin not merely as an investment asset but as a fundamental financial metric, which it designates as ’the new hurdle rate.’ Promising continual bitcoin acquisitions, ProCap aims to reach a $1 billion holding by the time it becomes a publicly traded entity.