Anthony Pompliano’s Company Targets $1 Billion in Bitcoin Reserves
The post Anthony Pompliano’s Company Targets $1 Billion in Bitcoin Reserves appeared on BitcoinEthereumNews.com. ProCap BTC, a Bitcoin (BTC) financial services company led by prominent crypto advocate and financier Anthony Pompliano, has announced plans to go public through a merger with a special purpose acquisition company (SPAC), Columbus Circle Capital Corp. The resulting entity will be named ProCap Financial. It aims to establish itself as a major player in the Bitcoin market by building up to $1 billion in BTC reserves. According to the official press release, the merger has raised more than $750 million in equity and convertible notes. The funding came from major institutional investors and Bitcoin-native funds through private placements. ProCap BTC raised $516.5 million by selling non-voting preferred units. ProCap Financial secured $235 million in commitments for senior secured convertible notes. “As part of the business combination, I have raised over $750 million, which is the largest initial fundraise in history for a publicly-traded bitcoin treasury company. We are fortunate to have raised this capital from some of the leading institutional investors on Wall Street, as well as many of the top crypto investors globally,” Pompliano posted on X. ProCap Financial plans to list on Nasdaq, pending approval from the United States Securities and Exchange Commission (SEC). The transaction is expected to close by the end of 2025. Pompliano, known for his bullish stance on Bitcoin and his extensive influence in the crypto space, will serve as the chairman of ProCap Financial. Besides just accumulating BTC, the firm also aims to develop products and services that will help generate revenue and profit from Bitcoin on its balance sheet. Specifics regarding these revenue generation strategies remain undisclosed at this stage. Pompliano explained in a recent video that while many Bitcoin treasury companies have emerged recently, the model still has scope for improvement. “The tagline …
ProCap BTC, a Bitcoin (BTC) financial services company led by popular crypto advocate and financier Anthony Pompliano, has announced plans to go public through a merger with a special purpose acquisition company (SPAC), Columbus Circle Capital Corp. The resulting entity will be named ProCap Financial. It aims to establish itself as a major player in the Bitcoin market by building up to $1 billion in BTC reserves. According to the official press release, the merger has raised more than $750 million in equity and convertible notes. The funding came from major institutional investors and Bitcoin-native funds through private placements. ProCap BTC raised $516.5 million by selling non-voting preferred units. ProCap Financial secured $235 million in commitments for senior secured convertible notes. “As part of the business combination, I have raised over $750 million, which is the largest initial fundraise in history for a publicly-traded bitcoin treasury company. We are fortunate to have raised this capital from some of the leading institutional investors on Wall Street, as well as many of the top crypto investors globally,” Pompliano posted on X. ProCap Financial plans to list on Nasdaq, pending approval from the United States Securities and Exchange Commission (SEC). The transaction is expected to close by the end of 2025. Pompliano, known for his bullish stance on Bitcoin and his extensive influence in the crypto space, will serve as the chairman of ProCap Financial. Besides just accumulating BTC, the firm also aims to develop products and services that will help generate revenue and profit from Bitcoin on its balance sheet. Specifics regarding these revenue generation strategies remain undisclosed at this stage. Pompliano explained in a recent video that while many Bitcoin treasury companies have emerged recently, the model still has scope for improvement. “The tagline for ProCap Financial is simple: Bitcoin is the new hurdle rate,” he added.
