ProCapBTC plans to raise $750 million through equity and convertible debt for large-scale Bitcoin purchases.
The venture is merging with Columbus Circle Capital 1, a SPAC backed by Cohen & Company.
The deal comes as U.S. crypto regulations ease under President Trump, fueling institutional interest.
Anthony Pompliano is preparing to become the CEO of a new Bitcoin-focused investment venture named ProCapBTC. According to a report by Financial Times, the company aims to raise $750 million through a deal concerning Columbus Circle Capital 1, a special purpose acquisition company (SPAC) endowed by Cohen & Company. This effect comes amid an uptick in crypto market activity and renewed interest in BTC from both institutions and investors.
Deal Structure Includes Equity and Convertible Debt
According to sources cited by the Financial Times, ProCapBTC is planning a capital raise through a combination of equity and convertible debt. The proposed breakdown includes $500 million in equity and $250 million in convertible debt.
The merger with the Cohen-backed SPAC would help bring ProCapBTC to the public markets and secure capital for large-scale Bitcoin acquisitions. If fully deployed into Bitcoin, the $750 million fund would position ProCapBTC just outside the top ten holders globally.
The BitcoinTreasuries.net tracker currently shows that 126 public companies hold nearly 820,000 BTC in total. This strategy mirrors the approach taken by Strategy (MSTR), which now holds approximately $61 billion worth of Bitcoin.
Pompliano Follows Path Pioneered by Michael Saylor
Michael Saylor, Executive Chairman of Strategy, is widely known for spearheading corporate Bitcoin accumulation. Pompliano’s ProCapBTC appears to be following a similar path, aiming to use Bitcoin as a treasury reserve asset.
The move suggests a growing trend among corporate leaders adopting digital assets as part of their long-term financial planning. Although Pompliano has not issued a public comment, sources indicate the deal could be finalized in the coming days. The agreement remains under negotiation, and the final terms may still change.
Regulatory Shifts and Market Optimism Fuel Interest
The timing of ProCapBTC’s emergence aligns with recent developments in U.S. crypto policy. President Donald Trump has openly welcomed the crypto industry, calling it an “honor” to support the space.
Regulatory easing under his administration has encouraged several firms to explore public listings and token-related initiatives. Recently, the issue of stablecoins Circle jumped 168% on the debut day. Separately, Bullish Group, the owner of CoinDesk and Bullish Exchange, is also said to be looking at an IPO.
All of this is an indicator of the growing interest in crypto-related stocks and investor confidence. Cohen & Company declined to comment on the ProCapBTC transaction to the media. Currently, it has not been officially announced but an announcement might be coming soon depending on how ongoing negotiations pan out.
