By Shubhangi Chowdhury
American investor and entrepreneur Anthony Pompliano has announced a major $1 billion merger to launch ProCap Financial, a bitcoin-native financial services firm. On Monday, Pompliano shared on X (formerly Twitter) that his company, Professional Capital Management, is merging with Columbus Circle Capital I, a special purpose acquisition company (SPAC). The merged entity will be publicly listed on Nasdaq under the ticker $CCCM following the completion of the business combination.
https://x.com/APompliano/status/1937123498624684246
“The company will be a publicly traded entity on Nasdaq at the conclusion of the proposed business combination between my private company ProCap BTC, LLC and Columbus Circle Capital Corp I, a publicly traded SPAC. The ticker for the publicly traded entity right now is $CCCM,” said Pompliano. This merger comes at a time when the Trump administration is signaling a broader shift in its approach to cryptocurrency policy. It aligns with recent calls to establish a strategic bitcoin reserve, following efforts to attract support and funding from the crypto industry during the campaign trail.
READ: Bitcoin hits $100,000 milestone, doubles in value after Trump election (December 5, 2024)
ProCap Financial aims to build a robust bitcoin treasury by acquiring and holding bitcoin on its balance sheet. The long-term vision is to use this reserve to launch revenue-generating products and services, including lending, trading, and capital markets offerings—all built around a bitcoin-native strategy.
In confirming the merger, Pompliano also revealed that ProCap Financial has already secured an initial fundraise of over $750 million. This includes $235 million in convertible debt and $500 million in equity. According to Pompliano, this is the largest initial raise in history for a publicly traded bitcoin treasury company. Leading bitcoin institutional investors backed the round- Magnetar Capital, Woodline Partners LP, Anson Funds, RK Capital, Off the Chain Capital, Parafi, Blockchain.com, Arrington Capital, BSQ Capital Partners, and FalconX.
In addition, industry experts who joined like Mark Yusko, Jason Williams, Eric Semler, Tony Guoga, and Matteo Franceschetti. With Bitcoin gaining attention, several companies have been adopting the Bitcoin Treasury model in 2025 where Bitcoin a central part of their financial strategy rather than treating it as a secondary investment. Around 835, 053 BTC, worth over approximately $87.94 billion USD is currently held by 136 publicly listed companies, according to Bitcoin Treasuries. ProCap is getting ready to join the growing list of Bitcoin Treasury Companies such as Strategy (acquired 4,020 More BTC in $427.1M deal in last May), Metaplanet (holds 11,111 BTC recently), Twenty-One Capital and few others.
READ: Bitcoin buyer Metaplanet plans to raise $5.4 billion (June 9, 2025)
Pompliano would lead ProCap. He had previously invested in more than 300 privatecompanies and is one of the well know BTC investor. “The legacy financial system is being disrupted by bitcoin,” said Pompliano.
ProCap Financial would be a platform that will not only acquire bitcoin for balance sheet, but aims to implement risk-mitigated solutions to generate revenue. Gary Quin, CEO of Columbus Circle Capital I (CCCM), echoed that sentiment: “From day one we sought to partner with a platform and a leader that could develop a transformative organization – and we found that in ProCap BTC and Anthony Pompliano.
Anthony’s track record as an innovative investor, operator, and early advocate in the bitcoin ecosystem speaks for itself. We believe his deep expertise and relentless conviction will help continue to transform an industry undergoing rapid evolution.”
ProCap BTC, LLC is a bitcoin-native financial services firm founded by Anthony Pompliano while Columbus Circle Capital Corp. I (NASDAQ: CCCM) is a Cayman Islands–incorporated blank check company, led by Chairman and CEO Gary Quin, a veteran investment banker with over 25 years of experience in cross-border M&A, private equity, and capital markets.