ProCap BTC has secured 386 million US dollars worth of Bitcoin as a strategic treasury reserve ahead of its upcoming SPAC merger. The acquisition forms part of ProCap’s comprehensive funding strategy, which includes 750 million USD in total financing composed of 516 million USD in equity and 235 million USD in convertible notes.
This positioning leverages SPAC mergers’ accelerated pathway to public markets compared to traditional IPOs, offering cryptocurrency firms enhanced liquidity and broader investor accessibility. With this purchase, ProCap’s Bitcoin holdings will rank as the 14th-largest among public company treasuries when the merger completes, joining corporations like Semler Scientific in holding significant Bitcoin reserves.
The move aligns with a growing corporate trend of Bitcoin accumulation, with entities such as Strategy holding 592,345 BTC, Metaplanet acquiring 11,111 BTC, and Grant Cardone’s firm securing 1,000 BTC recently. ProCap’s investment underscores the deepening institutional embrace of Bitcoin as a treasury asset.
Analysts view this development as part of Bitcoin’s broader institutionalization wave, which may progressively tighten available supply and contribute to long-term value appreciation. The transaction highlights how traditional financial vehicles like SPACs increasingly intersect with digital asset strategies.