A firm founded by longtime Bitcoin (BTC) advocate Anthony Pompliano is making massive BTC purchases one day after announcing a billion-dollar merger.

According to a new press release, ProCap Financial, renamed ProCap BTC after it merged with Columbus Circle Capital I, has acquired $387 million in Bitcoin to actively manage a new digital asset treasury.

The firm aims to raise as much as $1 billion to deploy the funds into various crypto-related revenue strategies that include lending, derivatives, and structured finance.

According to the announcement, the Bitcoin purchase is part of an ongoing program that aims to provide investors with immediate exposure to the flagship crypto asset.

In a new interview with CNBC, Pompliano, an outspoken BTC bull, lays out his vision for the firm.

“We want to build the leading bitcoin-native financial services company – like a traditional Wall Street firm, but on top of a Bitcoin balance sheet instead of dollars…

The goal is to look and feel like a traditional financial institution. That resonates very differently with capital allocators…

Many companies don’t care about the cost of capital. We do. We’re traditional capital allocators — we care about building a sustainable business that generates cash flow.”

BTC is worth $105,329 at time of writing, up 4% on the day.

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Firm Run by Anthony Pompliano Buys $387,000,000 Worth of Bitcoin in New BTC Treasury Strategy appeared first on The Daily Hodl.

A firm founded by longtime Bitcoin (BTC) advocate Anthony Pompliano is making massive BTC purchases one day after announcing a billion-dollar merger.

According to a new press release, ProCap Financial, renamed ProCap BTC after it merged with Columbus Circle Capital I, has acquired $387 million in Bitcoin to actively manage a new digital asset treasury.

The firm aims to raise as much as $1 billion to deploy the funds into various crypto-related revenue strategies that include lending, derivatives, and structured finance.

According to the announcement, the Bitcoin purchase is part of an ongoing program that aims to provide investors with immediate exposure to the flagship crypto asset.

In a new interview with CNBC, Pompliano, an outspoken BTC bull, lays out his vision for the firm.

“We want to build the leading bitcoin-native financial services company – like a traditional Wall Street firm, but on top of a Bitcoin balance sheet instead of dollars…

The goal is to look and feel like a traditional financial institution. That resonates very differently with capital allocators…

Many companies don’t care about the cost of capital. We do. We’re traditional capital allocators — we care about building a sustainable business that generates cash flow.”

BTC is worth $105,329 at time of writing, up 4% on the day.

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Firm Run by Anthony Pompliano Buys $387,000,000 Worth of Bitcoin in New BTC Treasury Strategy appeared first on The Daily Hodl.