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Briefly
- Anthony Pompliano PCAP plans to use its bitcoin hold on “implementation of a solution with a risky alleviation to generate income and profits”.
- The company says that after completing the suggested merger will have $ 1 billion.
- Bitcoin treasury companies are a hot trend, but analysts raised concerns about the sustainability of dynamics and the final impact on the market.
The personality of social media and crypto investor Anthony Pompliano introduced a 1 billion dollars on Monday to create a financial Procap, and Bitcoin-The financial service company, which will soon join the growing list of companies in stock of assets to Nasdaq.
Pompliano who began to promote PCAP in April, said On X, formerly Twitter, he recently received $ 750 million from “leading institutional investors on Wall Street” for an empty control company, along with heavy hitters in the cryptosphere.
“It’s time to get to work,” Pompliano said, noting that ProCAP will develop “products and services that will produce the income and profit of Bitcoins over time in our balance sheet.”
ProCap connects with Columbus Circle Capital that trades on Nasdaq under the name Ticker CCCM, said Procap VA Press release. Entities in the proposed transaction increased its own capital of $ 516 million and $ 235 million via a convertible, the company added.
Pompliano notification comes in the middle of a sharp increase in companies adding bitcoins to their balance sheet, including Trump Media’s Increase of $ 2.5 billion Buy Bitcoin last month and Gamestop Recent acceptance Bitcoins as a treasury reserve asset. Although many companies simply buy bitcoins and hold them, Pompliano underlines in the statement that capital will be put to work.
“Our goal is to develop a platform that has not only obtained bitcoins for our balance sheet, but also implement solutions to reduce risks to generate income and profits from our bitcoins,” he said.
Bitcoins shoppers, such as strategy, before MicrostrategyThey were able to turn over time. However, in a recent comment from Coinbase, analysts warned that this trend may not be sustainable and may one day “Systematic risks“For the whole crypto sector.
The logic is that sharp drawing of the Bitcoin price could force that these companies that often turn to debt to finance purchases could be forced to sell the asset in bulk.
According to Bitcoins worldwide, 134 public companies bought 835,000 bitcoins worth $ 85 billion Bitcoin cash registers. According to the Krypto data provider, Bitcoin changed around 102,000 USD on Monday, an increase of 2.2% per last day What about the Ringecko.
Edited by James Rubin
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