Anthony Pompliano, a prominent entrepreneur and bitcoin advocate, is leading his bitcoin-native financial platform ProCap BTC, LLC through a business combination that will take the company public under the name ProCap Financial, Inc. This initiative follows a transformative capital raise totaling $750 million, marking the largest initial fundraise ever recorded for a bitcoin treasury company. The new entity will be created via a merger between ProCap BTC and Columbus Circle Capital I (CCCM), a Cayman Islands-based SPAC sponsored by Cohen & Company, Ltd.
Upon closing, ProCap Financial is expected to list on Nasdaq with Pompliano serving as Founder and CEO. The company distinguishes itself by leveraging its bitcoin balance sheet not only to hold BTC but also to generate revenue and profits through various strategies, including lending, staking, derivatives, and other bitcoin-native financial products.
The $750 million capital raise includes commitments from institutional heavyweights such as Citadel, Susquehanna, Jane Street, Magnetar, Off the Chain Capital, Pantera Capital, and Adam Back—CEO of Blockstream and an early bitcoin pioneer. These investors participated through a combination of equity and convertible instruments, emphasizing strong institutional support and confidence.
The transaction collectively values the combined entity up to $1 billion, contingent on the final bitcoin acquisition price at closing, with anticipated completion before the end of 2025, pending SEC and shareholder approvals. Until the deal closes, ProCap’s bitcoin assets will be securely custodied, providing investors immediate exposure to BTC without delay.
According to Pompliano, ProCap Financial aims to operate at the intersection of digital assets and traditional finance, positioning itself as a leader in bitcoin-native financial services designed for sophisticated investors. This deal marks a pivotal advancement in institutional bitcoin adoption, signaling bitcoin’s transition from speculative asset to core strategic financial asset for public and private companies.