Anthony Pompliano’s $1B Merger Procap Financial Raises Over $750M For Bitcoin Treasury

Anthony Pompliano has announced a new $1 billion merger to create ProCap Financial, which will provide Bitcoin-native financial services. The company has also raised an initial $750 million to create a Bitcoin Treasury, the largest initial fundraise for a public company.

ProCap Financial Records Largest Initial Fundraise For Bitcoin Treasury

In an X post, Anthony Pompliano announced that as part of the $1 billion merger to create ProCap Financial, he has raised over $750 million, which is the largest initial fundraise for a publicly-traded Bitcoin Treasury company. Specifically, the companies involved in the merger raised $516.5 million in equity and $235 million in convertible notes.

Pompliano also provided details of the $1 billion merger to create the company, which would provide BTC services. ProCap will be a publicly traded entity on the Nasdaq after Pompliano’s private company, ProCap BTC LLC, and Columbus Circle Capital Corp conclude the proposed business combination. Pompliano will serve as the CEO of the new company.

ProCap Financial’s ticker will trade under the ticker ‘CCCM.’ Pompliano stated that they are fortunate to have raised this capital from some of the leading institutional investors on Wall Street. According to the press release, these investors include Magnetar Capital, Woodline Partners LP, Anson Funds, RK Capital, Off the Chain Capital, Parafi, and Blockchain.com.

The company will focus on acquiring Bitcoin for its balance sheet, while also developing products and services to produce revenue and profit from the BTC on its balance sheet over time.

Following the announcement, Strategy’s co-founder, Michael Saylor, congratulated Pompliano on this milestone. Pomplaino responded, highlighting how Saylor’s idea of a Bitcoin Strategy is spreading globally as people realize BTC’s value.

Saylor’s company also just announced another Bitcoin purchase, bringing its total holdings to 592,345 BTC. Strategy remains the public company with the largest Bitcoin holdings, while several companies are warming up to the idea of a BTC treasury.

As CoinGape reported, companies added $1.24 billion in Bitcoin to their treasuries last week. Meanwhile, besides Strategy, Metaplanet, another major Bitcoin treasury company, announced a 1,111 BTC purchase today, bringing its total holdings to 11,111 BTC.