Procap BTC, a Bitcoin Financial Service Company (BTC) led by an eminent crypto defender and investor Anthony Poseliano, announced his intention to refer public by a merger with a special acquisition company (SPAC), Columbus Circle Capital Corp.
The resulting entity will be appointed PROCAP Financial. It aims to establish itself as a major player on the Bitcoin market by building up to $ 1 billion in BTC reserves.
Anthony Poseliano leads $ 1 billion for Bitcoin Reserves Push
According to the official press release, the merger collected more than $ 750 million in equity and convertible tickets. Funding came from the main institutional investors and native Bitcoin funds through private investments.
Procap BTC raised $ 516.5 million by selling non -voting privileged units. Procap Financial obtained $ 235 million in commitments for guaranteed convertible tickets.
“As part of the combination of companies, I collected more than $ 750 million, which is the largest initial fundraising in history for a Bitcoin cash company listed in the balance sheet. We are fortunate to have noted this capital of some of the main institutional investors of Wall Street, as well as many best cryptographic investors in the world, “said pressing on X.
Procap Financial plans to list on the NASDAQ, pending approval of the American Securities and Exchange commission (SEC). The transaction should close by the end of 2025.
Pospiano, known for his bullish position on Bitcoin and his vast influence in cryptographic space, will serve as president of Procap Financial. In addition to simply the accumulation of BTC, the company also aims to develop products and services that will help generate Bitcoin income and profits on its balance sheet.
However, the details concerning these income generation strategies remain unknown at this stage. Pospiano explained in a recent video that, although many Bitcoin cash companies are recently emerged, the model always has a range of improvement.
“The PROCAP Financial slogan is simple: Bitcoin is the new obstacle rate,” he added.
This development follows a tendency to increase the institutional interest in Bitcoin. In April, Cantor Fitzgerald took a similar initiative in partnership with SoftBank, Tether and Bitfinex to create twenty -one capital. The following month, Trump Media and Technology Group collected around $ 2.5 billion to finance its Bitcoin reserve strategy.
Meanwhile, the trend has also resumed outside the United States. From Latam in the Middle East, companies are increasingly gravitating towards the addition of bitcoin to their balance sheets. This emphasizes growing confidence in Bitcoin potential as a reserve of value and a basis for financial innovation.
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