Wall Street Just Backed a $1B Bitcoin Power Play
This move isn't happening in a vacuum. Pompliano is following a path paved by Michael Saylor, whose firm sits on over $60 billion in Bitcoin. He's not alone. In April, Twenty One Capitalbacked by Tetherlocked in $585 million through a SPAC merger with Cantor Equity Partners. And in May, Strive Asset Management, co-founded by Vivek Ramaswamy, signed a reverse merger with Asset Entities Inc. to form another Bitcoin treasury company, with PIPE funding that could raise up to $1.5 billion.
What makes Pompliano's push different is the bridge he's buildingbetween Bitcoin's diehards and Wall Street's power players. We feel very fortunate to have the support of both the Bitcoin community and the traditional Wall Street players, he told Bloomberg. The investor list proves it: Magnetar Capital, Woodline Partners LP, Anson Funds, and Blockchain.com are in. With a media presence reaching millions, Pompliano may be positioning ProCap BTC as more than just another crypto playit could be Wall Street's next high-conviction bet on digital gold.
This article first appeared on GuruFocus.
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