Crypto Investor and Financial Influencer Anthony Bitcoin– Local financial services companies have developed plans to publicly use a dedicated acquisition company (SPAC).
Procap BTC will merge with Columbus Circle Capital Corp. I of financial services company Cohen & Company Inc. statement Monday from Columbus Circle. As part of the agreement, the new company formed through the merger will be led by Pompompiano and a Treasury Department of up to $1 billion will be established Bitcoin After the merger is over. According to the statement, although these strategies are not disclosed accurately, the Bitcoin Treasury will use various strategies to generate revenue and profits through various strategies.
Constantine Karides, chief legal counsel for the transaction, told wealth.
“Our goal is to develop a platform that will not only acquire Bitcoin for our balance sheet, but will also implement risk reduction solutions to earn revenue and profits from our Bitcoin holdings,” Pompsiano said in a statement.
Prior to merge, Procap BTC and Columbus Circle Capital Corp. Raised over $750 million in equity and debt financing from investors, including cryptocurrency brokerage Falconx, financial services firm blockchain.comand investment companies from chain capital.
The merger announcement and its crypto investment ambitions are as more and more companies work hard to build their own Bitcoin Treasury. Michael Saylor’s trend leads strategyformerly MicroStrategy, a veteran software company that spins with Bitcoin purchases in 2020. Since then, the company has acquired nearly 600,000 bitcoins at its current price, worth more than $60 billion. Over the past five years, the strategy’s share price has risen by more than 3,000% as the value of Bitcoin continues to appreciate.
In April, Cantor Fitzgerald Twenty-one capitals Cooperate with three other companies. Last month, President Donald Trump’s social media platform Truth Society, the company behind Trump Media and Technology Group announced a plan $2.5 billion Worth Bitcoin. Even GameStop, a troubled video game retailer, Investment Strategy Including Bitcoin acquisition.
