Anthony Pompliano’s Procap BTC, LLC purchased 3,724 bitcoin 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.
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