25.06.2025 01:02

Anthony Pompliano's ProCap Financial, a cryptocurrency financial services firm, rapidly deployed its newly acquired capital following a significant funding round. The company, less than a day after announcing a billion-dollar merger with Columbus Circle Capital Corp. (CCCM) and a separate $775 million capital raise, purchased 3,724 Bitcoin.

This substantial Bitcoin acquisition, averaging $103,785 per coin, marks the launch of a treasury program aiming to accumulate a billion dollars worth of Bitcoin. The program will reach its full potential upon the completion of the SPAC transaction and subsequent Nasdaq listing of the combined entity, ProCap Financial. Funding for this ambitious initiative came from a $550 million preferred equity offering and a further $225 million in convertible notes.

Were ProCap Financial already publicly traded, this Bitcoin holding would catapult them to the 14th largest Bitcoin owner among publicly listed companies, according to Bitcointreasuries.com, slightly below Semler Scientific. This significant investment reflects ProCap's belief that Bitcoin now sets a benchmark for returns, as expressed in a press release stating, "If you can’t beat it, you have to buy it."

ProCap intends to actively utilize its Bitcoin holdings, employing yield-generating strategies to maximize its return on investment. Information obtained from internet sources confirms these details.