Crypto investor Anthony Pompliano has made his move. Just one day after ProCap BTC revealed plans to go public, the firm bought 3,724 bitcoin. The average price per coin stood at $103,785. The deal followed the company’s announcement of a $1 billion merger with Columbus Circle Capital Corp I.
ProCap wasted no time. The firm used newly raised funds to buy bitcoin right after the announcement. The acquisition gave equity holders direct exposure to bitcoin from day one. It marked the start of the firm’s strategy to hold the digital asset on its balance sheet.
Bitcoin becomes core focus for ProCap financial
Pompliano’s team plans to buy more bitcoin. The company expects to grow its holdings to $1 billion once the merger closes. The move signals a long-term bet on bitcoin’s dominance as a store of value. The firm believes bitcoin is the new benchmark for capital.
ProCap BTC, now under Pompliano’s leadership, aims to transform into ProCap Financial after the merger. The new entity will focus on services built around digital assets. It wants to meet the financial needs of institutional clients and large firms.
Columbus Circle Capital, the SPAC behind the deal, brings experience in capital markets. It is led by Gary Quin and a group of seasoned investment professionals. The deal structure also includes private placements and convertible note sales to select investors.
ProCap’s crypto strategy under SEC review
The transaction remains under regulatory review. ProCap and CCCM plan to file detailed documents with the SEC. Those filings will include a full breakdown of the merger terms and its financial impact.
ProCap’s bitcoin purchase marks another step in the institutional rush toward crypto. By aligning its core strategy with bitcoin, the firm sets a clear signal. It sees the asset not just as a hedge, but as a foundation for future growth.
If the plan goes through, ProCap Financial will hold one of the largest corporate bitcoin reserves in the U.S. That may position Pompliano’s firm alongside names like MicroStrategy and Tesla in terms of bitcoin exposure. The crypto world will watch closely as this bold move unfolds.
