Bitcoin bull Anthony Pompliano says ProCap BTC, LLC has purchased 3,724 Bitcoin at an average price of $103,785 per BTC, a day after the SPAC deal announcement of the combination with Columbus Circle Capital Corp. I (NASDAQ: CCCM) to take the company public as ProCap Financial, Inc.
ProCap Financial aims to become a top financial services firm at the intersection of Bitcoin and traditional finance.
The business combination was pegged at a value of $1 billion. The plan is to continue purchasing BTC as part of a treasury strategy.
Columbus Circle Capital Corp is a Cayman Islands-based blank check firm created to effect a merger, share exchange, or asset acquisition with one or more businesses. The company is led by Chairman and CEO Gary Quin, COO Dan Nash, and CFO Joseph W. Pooler, Jr..
As the Trump administration is decisively supportive of digital assets, crypto markets have surged and institutions have focused more energy on participating in the crypto sector. Some crypto prognosticators expect the price of Bitcoin to rise dramatically in the coming years.
