- Anthony Pompliano’s Firm Procap Acquires 3,724 BTC Post-Merger News:
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- Anthony Pompliano’s Procap BTC, LLC purchased 3,724 bitcoins for approximately $387 million one day after announcing a $1 billion merger and over $750 million fundraising effort.
- Procap Buys 3,724 BTC at a Time-Weighted Average Price of $103,785:
- According to the announcement, the New York-based firm bought the bitcoin at a time-weighted average price (TWAP) of $103,785 per bitcoin on June 24, 2025. The acquisition occurred under an ongoing corporate bitcoin purchase program.
- Procap’s June 23 announcement detailed a proposed $1 billion business combination with blank-check company Columbus Circle Capital Corp. I (Nasdaq: CCCM). The merger will take Procap public as Procap Financial, Inc.
- The firm deployed funds raised at signing to execute the purchase, granting equity investors immediate bitcoin exposure. Procap confirmed it will continue buying bitcoin (BTC) as a core strategy, targeting up to $1 billion in bitcoin holdings post-merger.
- Interestingly, the announcement notes that the TWAP for this purchase may differ from the “signing bitcoin price” referenced in the June 23 Business Combination Agreement between CCCM and Procap.
- Procap BTC was founded by investor and crypto influencer Anthony Pompliano. The post-merger entity, Procap Financial, Inc., will develop financial products for institutions. Procap further details that CCCM, a Cayman Islands SPAC, is led by Chairman Gary Quin and aims to close the merger pending regulatory approvals.
