Anthony Pompliano, a known Bitcoin supporter, announced the public listing of his financial services company, ProCap BTC, through a merger with the special-purpose acquisition company Columbus Circle Capital Corp I.
ProCap's Merger with SPAC
ProCap BTC aims to become a public company by merging with a SPAC named Columbus Circle Capital Corp I. The deal is expected to close before the end of 2025.
Company's Bitcoin Holding Strategy
ProCap plans to hold up to $1 billion in Bitcoin as a core part of its strategy. The company aims not just to hold Bitcoin but to use it to generate profit through lending and other crypto services.
Investor Support and Interest
To fund its operations and Bitcoin purchases, the firm raised $516.5 million through a private placement of non-voting preferred units. The deal has backing from investors like Magnetar Capital and Blockchain.com.
The merger of ProCap BTC with Columbus Circle Capital Corp I could make it one of the largest public companies focused on holding and profiting from Bitcoin.
