Catenaa, Friday, June 27, 2025- US crypto investor Anthony Pompliano has unveiled a landmark $1 billion merger to create ProCap Financial, a bitcoin treasury company that aims to hold and actively deploy digital assets to generate profit.
The move represents one of the largest initial fundraises in crypto treasury history.
Pompliano’s firm, ProCap BTC, will merge with Columbus Circle Capital I, a SPAC, to form ProCap Financial.
The new entity will differ from traditional bitcoin treasury models by using its crypto holdings not only as reserves but also as revenue-generating assets through lending, derivatives, and structured products.
ProCap BTC has already raised $750 million—$500 million via equity and $250 million via convertible notes. Pompliano said institutional firms such as Susquehanna, Jane Street, and Magnetar, along with crypto funds like Pantera, CoinFund, ParaFi, Off the Chain Capital, and FalconX, have committed capital. Reuters, however, could not independently verify those commitments.
The firm follows in the footsteps of MicroStrategy, which began accumulating bitcoin in 2020 and now holds more than $63 billion in BTC.
Pompliano said ProCap would adopt a similar balance sheet strategy but with more active monetization tools.
The initiative aligns with recent political momentum after President Donald Trump proposed a strategic bitcoin reserve and pledged regulatory reform during his re-election campaign.
Pompliano called the project a response to the “disruption of legacy finance by bitcoin,” emphasizing a blend of asset accumulation and sustainable profit models.
