Anthony Pompliano, one of crypto’s most recognizable names, is reportedly close to taking the helm at ProCapBTC- a new Bitcoin-focused investment firm with big ambitions. As per a Financial Times report, the company is looking to raise $750 million to purchase Bitcoin. This is fueling its launch through a merger with Columbus Circle Capital 1, a SPAC that recently pulled in $250 million through a Nasdaq IPO.
$750 Million Fundraise Planned for Bitcoin Acquisition
ProCapBTC’s funding plan includes raising $500 million through equity and another $250 million via convertible bonds. It’s a strategy that echoes the bold Bitcoin-buying playbooks of firms like Strategy (formerly known as MicroStrategy) and Japan’s Metaplanet, moves that have captured the attention of both Wall Street and everyday investors.
Columbus Circle’s Recent $250 Million Nasdaq IPO Sets Stage
Columbus Circle’s IPO, completed in late May with backing from New York-based investment bank Cohen & Company, sets the stage for the planned merger. The firm raised $250 million by offering 25 million units at $10 each, alongside a concurrent private placement. All proceeds are now held in a trust account managed by Continental Stock Transfer & Trust Company. Its securities, Class A shares, units, and warrants, are currently listed on Nasdaq under the tickers CCCM, CCCMU, and CCCMW.
Pompliano’s SPAC Experience Boosts Investor Confidence
Pompliano has not made any public statements about the deal as of now, but he is no newcomer to the SPAC world. Earlier, he led ProCap Acquisition Corp, which pulled in $220 million in an upsized IPO, its shares jumped 7% on the first day of trading. He has been vocal about putting real skin in the game, often pointing out the reputation stakes he carries as a public face in the crypto and investment space.
Favorable U.S. Crypto Climate Fuels Institutional Interest
Momentum in the U.S. crypto market seems to be picked up again, thanks to a shift in the political climate. Under President Donald Trump, the government’s stance on digital assets has leaned more supportive, creating an atmosphere that feels far more welcoming to crypto than in recent years. As a result, money is moving back into the space and not just from retail investors. Institutions are beginning to take a fresh look too, signalling that broader adoption could be closer than many expected.
Merger Announcement Expected Soon, Market Awaits Impact
There has been no confirmation regarding the merger between ProCapBTC and Columbus Circle. It is being anticipated that a formal announcement can be made as early as next week. The crypto community is curious and will be keeping a close eye on the deal because with Pompliano’s involvement and the scale of the capital raise could bring in a significant amount of institutional interest in Bitcoin.
Also Read: CFTC’s Caroline Pham: No Easy Street for Crypto, Law Still Applies
