According to online reports, ProCap BTC, LLC, a bitcoin-native financial services company, has purchased 1,208 bitcoins at a time-weighted average price of US$105,977 each, bringing its total holdings to 4,932. The purchase follows the company's June 23 announcement that it had reached a $1 billion business merger agreement with Columbus Circle Capital Corp. I (NASDAQ: CCCM), which will be listed as ProCap Financial, Inc. The company said it will continue to implement its Bitcoin purchase plan and expects the value of Bitcoin on its balance sheet to reach US$1 billion after the business combination is completed.