ProCap BTC Acquires 3,724 Bitcoins Worth $386.66 Million Post $1 Billion Merger

ProCap BTC, LLC, a company led by Anthony Pompliano, has acquired 3,724 Bitcoins valued at $386.66 million. This purchase occurred shortly after the company announced a $1 billion business merger with Columbus Circle Capital Corp. I, a publicly listed company trading under the ticker CCCM on June 23. The Bitcoin acquisition was made on June 24, 2025, at an average price of $103,785 per coin.

The strategy behind this move was to swiftly utilize the raised funds to purchase Bitcoin, thereby providing equity investors with immediate exposure to the digital asset. The company's statement, “If you can’t beat it, you have to buy it,” underscores their proactive approach. The acquired Bitcoin is currently held on the firm’s balance sheet and will remain in custody until the business merger is finalized.

The initial plan involves ProCap BTC merging with CCCM to form a new public company named ProCap Financial, Inc. Following the merger, the new entity will be listed on the NASDAQ and will continue to acquire Bitcoin as part of its business operations. The company aims to hold up to $1 billion worth of Bitcoin on its books post-merger.

Pompliano successfully raised over $750 million for this initiative. This includes $516.5 million from investors who purchased shares and $235 million from convertible notes. These notes do not accrue interest but can be converted into shares at a later date and are backed by double their value in either cash or Bitcoin.

The U.S. Bank National Trust will oversee the management of the Bitcoin and funds, acting as the trustee for the loans. The company emphasizes that these notes are primarily intended for large, professional investors rather than the general public.

Pompliano expressed pride in securing top-tier investors for the deal, including Magnetar Capital, Blockchain.com, Arrington Capital, and Parafi. Notable individual supporters include Mark Yusko, Jason Williams, and Tony Guoga.

Pompliano’s objective is to create a platform that not only acquires Bitcoin for the company’s balance sheet but also implements risk-mitigated solutions to generate revenue and profits from their Bitcoin holdings. The merger is anticipated to be completed by the end of 2025. Upon completion, shareholders of CCCM and unit holders of ProCap BTC will receive shares in the new company, ProCap Financial.