AP) has completed its first Bitcoin purchase. On the 24th (local time), according to The Block, Procap made an official announcement that it had purchased 3,724
It was revealed that BTC was purchased at a time-weighted average price (TWAP) of $103,785 per coin, bringing the total purchase amount to approximately $385 million.
The bitcoin will be directly incorporated into ProCap's balance sheet, allowing investors to gain indirect leveraged exposure to the bitcoin price through their shares.
ProCap aims to hold $1 billion in Bitcoin over the long term. The announcement comes as ProCap joins Nasdaq-listed Columbus
The move comes one day after the company announced a $1 billion merger with Circle Capital Corp. (CCCM). Once the merger is complete, the company will be called "ProCap
The name was changed to "Financial, Inc.", inspired by Michael Saylor's Strategy case study.
This move joins a growing trend of “crypto finance companies” buying digital assets through equity and bond issuances. ProCap said, “With this initial round of funding, we will raise a total of $516.5 million in equity and bond issuances.
The offering secured $235 million in convertible notes, the largest initial fundraise in the history of a public bitcoin finance company."
The company said, "We will use the funds raised immediately after signing to purchase Bitcoin, providing immediate benefits to investors.
"We plan to continue purchasing Bitcoin going forward and generate revenue and profits through various strategies," he added.
2025/06/25 15:51 KST
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