U.S. investor and entrepreneur Anthony Pompliano announced on Monday the creation of a new bitcoin (BTC-USD) treasury company that would hold up to $1 billion of the world’s largest cryptocurrency on its balance sheet.
Pompliano said in a statement that his financial services firm ProCap BTC would merge with Columbus Circle Capital I, a special purpose acquisition company, to create ProCap Financial, a bitcoin treasury firm.
The trend comes as U.S. President Donald Trump has sought to overhaul cryptocurrency policy, including calls to establish a strategic bitcoin reserve, after courting cash from the industry on the campaign trail.
Pompliano, one of the biggest investors in the crypto space over the last several years, said ProCap BTC has raised $500 million in equity and $250 million in a convertible note, in what he termed the largest initial fundraising in history for a bitcoin treasury company.
Source: Finance.yahoo
