Crypto investor and entrepreneur Anthony Pompliano has unveiled a landmark $1 billion merger to take his bitcoin-native financial platform, ProCap Financial, public via a special purpose acquisition company (SPAC). The deal, announced Monday, involves a merger with Columbus Circle Capital Corp. I (CCCM), a blank-check company backed by an affiliate of Cohen & Company.
ProCap seeks to redefine bitcoin treasuries with $1B SPAC deal
ProCap has raised $750 million, and intends to immediately deploy the capital to acquire Bitcoin. This structure offers investors early exposure to BTC ahead of the merger’s completion, expected before the end of 2025 pending regulatory and shareholder approvals.
Unlike firms that passively hold bitcoin, ProCap aims to generate yield through a bitcoin-native financial services platform offering lending, trading, and capital markets, all built on a BTC balance sheet. “We want to build the leading bitcoin-native financial services company,” Pompliano said. “Like a traditional Wall Street firm, but on top of a bitcoin balance sheet instead of dollars.”
Appearing on CNBC, Pompliano framed Bitcoin’s volatility as a feature rather than a flaw.
“A core function of Bitcoin is not only the accessibility, but it is the volatility. Bitcoin just moves more. Ultimately, if you look over the last 90 days, Bitcoin is up 15% and it’s up over 50% in the last year.”
He added that institutional capital is increasingly comfortable allocating to BTC:
“Large pools of capital now realize that it is big enough for them to allocate to. That’s where you’re really seeing adoption—both on Wall Street and at the nation-state level.”
Pompliano also outlined ProCap’s vision as a bridge between the fiat and bitcoin-denominated financial systems:
“There is a dollar-denominated world and there’s a Bitcoin-denominated world. What I want to do is continue to sit at the intersection of that and provide ability not only for myself and our shareholders, but for institutions.”
Pompliano will serve as CEO of ProCap Financial and lead efforts to transform it into a high-yield, institution-grade platform akin to Goldman Sachs, but powered by BTC. “Buying Bitcoin and allowing it to go up in price has obviously been a successful strategy,” he said. “But I believe the future is going to be about building revenue and profit on top of that.”
Metaplanet and Strategy add to corporate Bitcoin arms race
The announcement comes amid a flurry of corporate bitcoin acquisitions that underscore the intensifying arms race among public firms to accumulate the digital asset.
There are no brakes on the corporate #Bitcoin train!
Major $BTC purchases announced to start off the week:
• @Metaplanet_JP: +1,111 BTC
• Cardone Capital: +1,000 BTC
• @Strategy: +245 BTC pic.twitter.com/6v9mMpLL85— CoinCodex (@CoinCodex) June 23, 2025
Japan’s Metaplanet disclosed on Monday that it had acquired an additional 1,111 BTC for approximately $117 million, boosting its total holdings to 11,111 BTC. The purchase brings Metaplanet within close range of Tesla’s stash of 11,509 BTC and strengthens its position as the eighth-largest corporate holder of bitcoin.
Just a week earlier, Metaplanet bought 1,112 BTC, underscoring its aggressive accumulation strategy. At its current pace, the firm could soon overtake Tesla as the world’s seventh-largest corporate bitcoin holder.
Meanwhile, Michael Saylor’s Strategy, the largest public BTC holder, also continued its accumulation. The firm purchased 245 BTC for $26 million last week, at an average price of $105,856 per coin. Although it was Strategy’s smallest acquisition since March, it reflects the company’s consistent strategy of buying during price dips.
Source:: Anthony Pompliano Announces $1 Billion SPAC Deal to Establish New Bitcoin Treasury Titan