Anthony Pompliano, a prominent Bitcoin advocate and investor, has announced that his crypto-focused firm, ProCap, will go public in the United States through a SPAC merger with the blank-check company Columbus Circle Capital Corp.
The deal has already secured $750 million in funding, and upon completion, the merged entity will be listed as ProCap Financial Inc.
A key highlight of the merger is that ProCap Financial will hold $1 billion worth of Bitcoin (BTC) on its balance sheet, reflecting Pompliano’s long-standing conviction in Bitcoin as a strategic reserve asset.
This move aligns with a broader trend of institutional and publicly traded companies adopting Bitcoin as part of their capital strategy.
ProCap Merger Expected to Close by End of 2025 Pending Approvals
The transaction is expected to close before the end of 2025, pending regulatory and shareholder approvals.
Once completed, ProCap Financial will become one of the most significant Bitcoin-heavy public companies in the U.S., positioning itself as a major player in the intersection of traditional finance and crypto markets.
The move signals growing mainstream confidence in Bitcoin and offers investors a regulated avenue to gain exposure to digital assets through public equity, further bridging the gap between Wall Street and the decentralized finance ecosystem.
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ProCap, Columbus Circle Raise $750M to Support Merger Deal
ProCap and Columbus Circle Capital announced that they raised over $750 million to support their merger, securing $516.5 million in equity funding and $235 million through convertible notes.
This substantial raise underscores strong investor confidence in the deal and in the future of crypto-focused public firms.
The funding round drew backing from prominent industry players, including crypto brokerage FalconX, financial services firm Blockchain.com, and Eric Semler, chair of both a medical company and Bitcoin-holding firm Semler Scientific.
Their involvement highlights increasing institutional interest in Bitcoin-centric strategies and the broader crypto-financial ecosystem.
The capital raised will help position the newly formed ProCap Financial Inc. as a significant player with robust Bitcoin reserves and public market access.
Also Read: Robert Kiyosaki Recommends Bitcoin, Gold, Silver for Protection as “Global Debt Bubble Will Burst”
ProCap to Join Ranks of Bitcoin-Holding Public Firms, Following Strategy’s Lead
ProCap Financial will become one of the growing number of public companies holding Bitcoin on their balance sheets, following a model popularized by MicroStrategy—now known as Strategy.
MicroStrategy made headlines in 2020 when it began aggressively buying Bitcoin as a treasury reserve asset, a move that influenced other firms to adopt similar strategies.
By holding $1 billion in Bitcoin, ProCap Financial signals its strong belief in the long-term value of digital assets and joins a list that includes firms like Tesla, H100, Metaplanet, Gamestop and Semler Scientific.
This approach not only diversifies corporate reserves but also aligns with a broader trend of integrating cryptocurrency into mainstream finance, offering public investors indirect exposure to Bitcoin through equity markets.
Also Read: Mexico’s Billionaire Ricardo Salinas Pliego Boosts Bitcoin Holdings From a Previous 70% Investment