Anthony Pompliano's newly launched company, ProCap BTC, LLC, leapfrogged GameStop Corp. (NYSE:GME) in Bitcoin (CRYPTO: BTC) holdings after bagging another big BTC stash on Wednesday.
What happened: In an X post, well-known entrepreneur and investor Pompliano highlighted data from a Bitcoin holdings tracking site that placed his firm above the video game retailer.
ProCap bought 1,208 BTC at an average price of $105,977, following a purchase of 3,724 BTC a day earlier. Its reserve has swelled to 4,932 BTC, worth $532 million at current prices. GameStop's treasury had 4,710 BTC, worth $508 million, as of this writing.
Procap climbed to 13th place in the list, although considerably behind MARA Holdings Inc. (NASDAQ:MARA) and Riot Platforms Inc. (NASDAQ:RIOT), which hopped on the Bitcoin treasury bandwagon much earlier.
Michael Saylor's Strategy Inc. (NASDAQ:MSTR) was sitting pretty at the top with 592,345 BTC, worth nearly $64 billion.
"The race is on to acquire as many Bitcoin as possible," Pompliano said in the post.
See Also: Fannie And Freddie Directed To Consider Crypto Mortgages By US Housing Regulator, But Michael Saylor Thinks It’s Only Bitcoin That Has ‘Entered The American Dream’
Why It Matters: Pompliano's firm started buying BTC within 24 hours of announcing a $1 billion business combination and over $750 million in fundraising, claiming a unique structure that allows it to buy the leading cryptocurrency immediately after raising funds.
The company is set to merge with Columbus Circle Capital I Corp. (NASDAQ:CCCM) as part of a special purpose acquisition deal and go public under the name ProCap Financial, Inc.
Price Action: At the time of writing, Bitcoin was exchanging hands at $107,894.79, up 1.38% in the last 24 hours, according to data from Benzinga Pro.
Shares of CCCM were up 1.57% in after-hours trading after sliding 5.09% to $10.82 during Wednesday's regular trading session.
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