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ProCap, GameStop, and Metaplanet strengthen their bets on Bitcoin.
According to Gate News bot, FXStreet reports that Anthony Pompliano revealed in a post on X on Wednesday that ProCap BTC has spent approximately $128 million to acquire 1,208 BTC. The average price for this acquisition was $105,977 per BTC, bringing the company's total holdings to 4,932 BTC.
The day before, Pompliano revealed that the company had purchased 3,724 BTC at an average price of $103,785 per coin. A few days after ProCap announced its listing plans and set a $1 billion BTC reserve target, it began to acquire Bitcoin.
This development comes at a time when multiple companies are competing to implement Bitcoin fund management strategies. Bitcoin fund management companies focus on acquiring Bitcoin through stock issuance and the issuance of convertible notes, a strategy popularized by Michael Saylor's "strategy".
Pompliano stated that ProCap currently holds more Bitcoin than the video game retailer GameStop (GME). However, GameStop revealed that according to a filing it made to the U.S. Securities and Exchange Commission (SEC) on Monday, the company has secured an additional $450 million in financing by extending the maturity of its zero-coupon convertible preferred stock offering. Recently, the company extended the offering period through a "green shoe option," bringing its total financing amount to $2.7 billion.
GameStop pointed out that the proceeds from this issuance will be used for general corporate purposes. In addition, the company will also use these funds for strategic investments that align with the company's investment policy. GameStop recently initiated its Bitcoin funding strategy by acquiring 4,710 coins (BTC).
Meanwhile, a post released by X on Wednesday stated that the Japanese company Metaplanet raised $515 million to expand its Bitcoin holdings. Previously, the company's main investor, EVO Fund, converted 540,000 stock warrants into 54 million shares. Earlier, the company announced plans to issue 555 million shares to raise $5.4 billion to expand its Bitcoin holdings. The company holds 11,111 BTC and plans to increase this number to 1% of the total Bitcoin supply by 2027.