- ProCapBTC plans to raise $750M for Bitcoin acquisitions via a SPAC led by Pompliano.
- Pompliano is negotiating to become CEO of ProCapBTC in a major public Bitcoin buying push.
- The SPAC merger could make ProCapBTC one of the largest institutional Bitcoin buyers.
Cryptocurrency entrepreneur Anthony Pompliano is negotiating to become the chief executive of a new Bitcoin investment vehicle, ProCapBTC. According to sources cited by the Financial Times, the group aims to raise $750 million for direct Bitcoin acquisitions. ProCapBTC plans to go public through a merger with Columbus Circle Capital 1, a special purpose acquisition company (SPAC) backed by investment bank Cohen & Company.
If the deal proceeds, Pompliano would oversee a fundraising round targeting $500 million in equity and $250 million in convertible debt. The merger would create one of the largest dedicated Bitcoin-buying public companies in recent years. While discussions continue, an official announcement could come as soon as next week. Pompliano and Cohen & Company have not publicly commented on the ongoing talks.
Columbus Circle and Cohen & Company Back Initiative
In May 2025, Columbus Circle Capital 1 initiated a $250 million initial public offering on Nasdaq, serving as the foundation for the upcoming ProCapBTC transaction. Sponsored by Cohen & Company, a New York-based investment bank listed on the New York Stock Exchange, Columbus Circle Capital was established to pursue mergers in the fintech, digital asset and artificial intelligence sectors.
Furthermore, Cohen & Company has established a reputation for supporting the digital asset industry, offering a range of audit, tax, and advisory services to crypto projects, exchanges, and decentralized finance ventures. By backing Columbus Circle’s SPAC, the bank signals continued confidence in the growth potential of digital assets within public markets.
The merger with ProCapBTC would result in the new company joining the ranks of other institutional Bitcoin purchasers like MicroStrategy or the Japanese Metaplanet, which also have large amounts of Bitcoin on their balance sheets. The transaction highlights that public organizations still want exposure to Bitcoin through innovative financing structures.
Rising Public Crypto Listings Boost Market Activity
Pompliano is joining ProCapBTC as the momentum around public crypto listings heats up once again. Stablecoin issuer Circle soared 168% in its recent public listing, and Bullish, a digital asset exchange founded by Peter Thiel, has also proposed to become public. Analysts suggest this increase in public activity is driven by changes in regulatory expectations and a rise in optimism regarding digital assets as policymakers signal a more favourable approach towards cryptocurrencies.
Pompliano, recognized for his popular podcast and active social media presence, has experience leading large capital raises. Earlier this year, he oversaw a $220 million IPO for another SPAC, ProCap Acquisition Corp, which is unrelated to the current deal.
If successful, the ProCapBTC initiative would further validate the strategy of building Bitcoin treasuries through public investment vehicles.
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