Pompliano Aims to Raise $750 Million for Bitcoin SPAC

Cryptocurrency entrepreneur Anthony Pompliano is reportedly in talks to launch a new Bitcoin-buying vehicle that will seek to raise $750 million. Pompliano is expected to become CEO of ProCapBTC, a Special Purpose Acquisition Company (SPAC) that is set to merge with the publicly traded blank cheque vehicle Columbus Circle Capital 1. Under Pompliano’s leadership, which is still under discussion, ProCapBTC would seek to raise $500 million in equity and $250 million in convertible debt as part of a merger with Columbus Circle Capital 1, backed by the Cohen & Company investment bank. The ProCapBTC deal could potentially be announced as soon as next week, but its terms are not yet finalized.

Columbus Circle Capital 1 is a blank check company formed with the purpose of effecting a merger, share exchange and purchase, asset acquisition, reorganization or similar business combination with one or more businesses. In May 2025, Columbus Circle raised $250 million in an initial public offering. Cohen & Company is a publicly traded investment bank focused on expanding the range of capital markets and asset management services. The bank has been active in the crypto and digital asset industry over the past few years, providing audits, tax and advisory services related to crypto assets, initial coin offerings, decentralized finance, non-fungible tokens and digital asset exchanges.

This news follows Pompliano’s leadership of ProCap Acquisition, a fintech-focused SPAC that debuted on the Nasdaq in April. ProCap’s shares started trading soon after its upsized IPO closed on May 21, raising $250 million in gross proceeds through the sale of 25 million units at $10 per unit. Pompliano did not confirm the reported SPAC merger on social media by publishing time.

Pompliano's leadership in this endeavor is particularly noteworthy given his extensive experience and influence in the crypto space. His involvement is expected to attract substantial investment, given his track record and the current bullish sentiment surrounding Bitcoin. The merger with Columbus Circle, a special purpose acquisition company (SPAC), is a strategic move that could facilitate the rapid deployment of capital into the Bitcoin market. The decision to focus solely on Bitcoin acquisitions reflects a growing trend among institutional investors who view Bitcoin as a store of value and a hedge against inflation. This strategy aligns with Pompliano's long-standing advocacy for Bitcoin as a superior asset class compared to traditional investments. The $750 million target is ambitious but indicative of the confidence in Bitcoin's potential for long-term growth and stability.

The formation of ProCapBTC and its ambitious fundraising goal highlight the evolving dynamics of the crypto market. Institutional investors are increasingly recognizing the value of digital assets, and initiatives like ProCapBTC are paving the way for more significant investments in the sector. Pompliano's leadership is likely to draw attention from other industry players, potentially leading to further innovations and investments in the crypto space.