Anthony Pompliano's Company May Have Bought More Bitcoin Than GameStop, But Michael Saylor's Strategy And MARA Still Reign Supreme
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.
Looking for the best cryptocurrency stocks for your portfolio? Benzinga Edge Stock Rankings can help identify the high-performing ones across Momentum, Quality, Growth, and Value categories.
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Posted-In: Anthony Pompliano Bitcoin Treasury ProCap BTC SPAC mergerCryptocurrency News Markets
