Pompliano Plans $750 Million Bitcoin Acquisition via SPAC

Anthony Pompliano, a well-known figure in the cryptocurrency industry, is reportedly planning to lead a new public company with the primary objective of acquiring Bitcoin. Pompliano, recognized for his influential podcast and substantial social media presence, is expected to serve as the CEO of ProCapBTC. This new entity aims to raise $750 million to directly purchase Bitcoin (BTC).

ProCapBTC intends to go public through a merger with Columbus Circle Capital 1, a special purpose acquisition company (SPAC) backed by the investment firm Cohen & Company. This deal, if finalized, would be one of the largest recent capital raises focused on cryptocurrency, reflecting a broader resurgence of interest in digital assets within public markets. According to sources familiar with the negotiations, ProCapBTC plans to secure $500 million in equity and $250 million in convertible debt as part of the merger.

If the deal is completed, ProCapBTC would become a significant institutional buyer of Bitcoin, following in the footsteps of other prominent figures such as Michael Saylor of MicroStrategy and Japan’s Metaplanet. This move would position Pompliano as a key player in the institutional adoption of Bitcoin, leveraging his influence and expertise in the cryptocurrency space.

Columbus Circle Capital 1, which raised $250 million in a May IPO, was established to identify merger targets in sectors such as fintech, digital assets, and artificial intelligence. The SPAC is sponsored by Cohen & Company, a boutique investment bank based in New York. Pompliano's involvement in dealmaking is not new; earlier this year, he successfully raised $220 million for a separate blank-check vehicle, although this initiative is unrelated to the current ProCapBTC deal.

The ProCapBTC deal is still in the negotiation phase, with sources indicating that an official announcement could be made as early as next week. This push aligns with a recent surge in crypto activity, fueled by speculation that digital assets may play a more significant role in U.S. economic policy under a potential second Trump administration.