Anthony Pompliano Announces $1 Billion SPAC Deal to Establish New Bitcoin Treasury Titan

Crypto investor and entrepreneur Anthony Pompliano has unveiled a landmark $1 billion merger to take his bitcoin-native financial platform, ProCap Financial, public via a special purpose acquisition company (SPAC). The deal, announced Monday, involves a merger with Columbus Circle Capital Corp. I (CCCM), a blank-check company backed by an affiliate of Cohen & Company.

ProCap seeks to redefine bitcoin treasuries with $1B SPAC deal

ProCap has raised $750 million, and intends to immediately deploy the capital to acquire Bitcoin. This structure offers investors early exposure to BTC ahead of the merger’s completion, expected before the end of 2025 pending regulatory and shareholder approvals.

Unlike firms that passively hold bitcoin, ProCap aims to generate yield through a bitcoin-native financial services platform offering lending, trading, and capital markets, all built on a BTC balance sheet. “We want to build the leading bitcoin-native financial services company,” Pompliano said. “Like a traditional Wall Street firm, but on top of a bitcoin balance sheet instead of dollars.”

Appearing on CNBC, Pompliano framed Bitcoin's volatility as a feature rather than a flaw.