Pompliano's ProCapBTC Aims to Acquire $750 Million in Bitcoin

Anthony Pompliano, a prominent digital assets entrepreneur and podcast host, is set to lead ProCapBTC, a new investment firm aiming to acquire a substantial amount of Bitcoin. ProCapBTC plans to raise $750 million through a merger with Columbus Circle Capital 1, a special purpose acquisition company (SPAC) backed by investment firm Cohen & Company. The funding will be divided into $500 million in equity and $250 million in convertible debt. This initiative, if successful, would mark one of the largest Bitcoin-focused treasury moves in recent months.

Columbus Circle Capital 1, which completed a $250 million IPO in May, is designed for mergers and acquisitions and is supported by Cohen & Company Capital Markets. The merger with ProCapBTC would provide the latter with a public listing and immediate access to capital for Bitcoin acquisition. Cohen & Company has been expanding its presence in the digital asset sector, offering services to clients in cryptocurrency, NFT, and decentralized finance industries. Their involvement in ProCapBTC underscores the growing institutional interest in crypto treasury strategies.

If ProCapBTC allocates the entire $750 million to Bitcoin purchases, it would become one of the largest corporate holders of the asset. Currently, 130 public companies hold a combined total of over 820,000 BTC, with MicroStrategy leading the group with 582,000 BTC in holdings. This move by ProCapBTC aligns with a broader trend of increased interest in the crypto sector, fueled by a softer regulatory stance from the U.S. administration. President Donald Trump's recent pro-crypto statements have encouraged several crypto firms to explore public listings, including stablecoin issuer Circle and Bullish Group, which owns Bullish Exchange and CoinDesk.

Pompliano's involvement in ProCapBTC follows his earlier leadership of ProCap Acquisition, a fintech-focused SPAC that raised $250 million through a Nasdaq IPO in April. The timing of ProCapBTC’s launch coincides with renewed enthusiasm in the crypto sector, driven by the administration’s softer stance on digital asset regulations. This initiative highlights the growing institutional interest in crypto treasury strategies and could significantly impact the Bitcoin market.