Pompliano Launches ProCap with $1B Merger, Raises $750M to Go Public

Key Takeaways:

• ProCap will go public via $1B SPAC merger, leveraging Bitcoin holdings for revenue
• The firm combines Bitcoin reserves with traditional financial strategies
• With $1B in BTC, ProCap would become the eighth-largest corporate holder

On June 23, American investor and entrepreneur Anthony Pompliano unveiled plans to launch ProCap Financial, a Bitcoin-native investment firm formed through a $1 billion business merger. 

Today I am announcing a $1 BILLION merger to create ProCap Financial, a bitcoin-native financial services.

The company will be a publicly traded entity on Nasdaq at the conclusion of the proposed business combination between my private company ProCap BTC, LLC and Columbus Circle…

— Anthony Pompliano 🌪 (@APompliano) June 23, 2025

The deal includes $750 million raised from institutional investors to take the company public via a merger with Columbus Circle Capital Corp., a SPAC designed to bring private firms to market.

Revenue and Profits Will Be Generated Through BTC Treasury

The merger, expected to close by late 2025, will leave ProCap with $1 billion in Bitcoin on its balance sheet. The firm will trade on the Nasdaq under ticker $CCCM, with Pompliano at the helm.

However, beyond the numbers, ProCap’s model is designed to do more than hold Bitcoin. The company will actively manage a Bitcoin treasury, acquiring Bitcoin not only as a passive asset but also as the core engine of the business.

Instead of letting the BTC sit idle, ProCap plans to implement structured financial strategies that use its Bitcoin holdings to generate steady revenue and long-term profits. 

These could include lending, yield generation, or other treasury management tools structured specifically for Bitcoin-based assets.

Pompliano believes this model combines two powerful concepts: a strong digital asset reserve and a modern financial platform built on top of it. 

This approach mirrors Twenty One Capital, which announced a similar SPAC merger with Cantor Equity Partners in April 2025. That deal, set to trade under ticker XXI, also bypassed a traditional IPO.

JUST IN: 🇺🇸 Jack Mallers launches Twenty One, a new public company whose sole purpose is to accumulate as much #Bitcoin as possible.

The company is backed by Tether, Softbank, and Cantor Fitzgerald.

It launches with over 42,000 #bitcoin ($4 billion) already on its balance… pic.twitter.com/Z6fgkdFdjn

— Altcoin Daily (@AltcoinDaily) April 23, 2025

Tether played a key role, purchasing 4,812 BTC ($459 million) for Twenty One Capital in May. The BTC is held in escrow until the SPAC closes, after which it will move to Twenty One Capital's treasury.

For investors and industry watchers, the similarities between these two structures are striking. But ProCap’s scale and its strategy set it apart.

Michael Saylor’s Bitcoin Strategy Continues to Influence the Entire Crypto Industry

Pompliano’s announcement didn’t go unnoticed. Shortly after he posted about the ProCap launch on X, Michael Saylor, founder of Strategy (formerly MicroStrategy), publicly congratulated the move.

That show of support carries weight. Saylor is widely credited with pioneering the corporate Bitcoin treasury model, transforming his company into the world's largest public holder of Bitcoin. 

Thank you, Michael.

Your idea is spreading globally as people realize the value of bitcoin.

— Anthony Pompliano 🌪 (@APompliano) June 23, 2025

In response, Pompliano acknowledged that this vision of companies integrating Bitcoin deeply into their financial operations is spreading faster than ever. And the numbers back it up. 

As of June 23, Strategy holds 592,345 BTC, having just added 245 more Bitcoins to its reserves. 

Saylor has been consistent in his message. He doesn’t believe another crypto winter is on the horizon. In his view, Bitcoin is no longer in a risky phase. He believes it’s heading toward $1 million, unless it collapses to zero.

Related: Can Bitcoin go to zero?

Saylor’s confidence has inspired others. Several public companies are now actively modeling themselves after Strategy. 

If ProCap moves forward with its plan to place $1 billion in Bitcoin on its balance sheet, the firm would rank among the top corporate holders of Bitcoin worldwide.

According to data from Bitbo, that would push Coinbase, which currently holds 9,267 BTC valued at roughly $974 million, one spot down in the global ranking.