Anthony Pompliano Unveils $1B ProCap Merger, $750M Bitcoin Treasury

Key Points:

• ProCap Financial formed through $1B merger, set to trade publicly under ticker ‘CCCM’.
• Raised $750M from top investors, marking the largest initial fundraise for a Bitcoin treasury firm.
• ProCap aims to hold Bitcoin and build services that generate profit from its BTC holdings.

Anthony Pompliano has announced a $1 billion merger to form ProCap Financial, a Bitcoin-native financial services company. The new firm will be created through a business combination between ProCap BTC LLC, Pompliano’s private company, and Columbus Circle Capital Corp I, a publicly listed special purpose acquisition company (SPAC).

Following the merger, ProCap Financial will become a publicly traded entity on the Nasdaq under the ticker ‘CCCM’. The company will focus on both Bitcoin acquisition and building financial products and services tied to its BTC holdings.

Largest Initial Raise for Public Bitcoin Treasury

Pompliano confirmed that ProCap Financial has raised over $750 million as part of the transaction. He stated this is the largest initial fundraise in history for a publicly traded Bitcoin treasury company. According to his post on X, the capital was secured from both institutional investors on Wall Street and top crypto investors globally, though no specific names were disclosed.

Pompliano said,

“We are fortunate to have raised this capital from some of the leading institutional investors on Wall Street.”

The raised funds will be used to acquire Bitcoin for ProCap’s balance sheet and develop revenue-generating services based on those holdings.

ProCap Aims to Combine Treasury Strategy With Services

The company’s model will revolve around building long-term Bitcoin reserves while offering tools and services to earn returns from them. This dual approach positions ProCap as both a treasury vehicle and a service provider in the Bitcoin space.

According to Pompliano, ProCap Financial will

“focus on acquiring Bitcoin for its balance sheet, while also developing products and services to produce revenue and profit from the Bitcoin on our balance sheet over time.”

Following the announcement, Michael Saylor, co-founder of Strategy, publicly congratulated Pompliano. Saylor’s own company recently announced another Bitcoin purchase, increasing its total holdings to 592,345 BTC. Both firms now represent some of the largest public-facing Bitcoin treasuries in the market.