The offering would be possible through a merger with Columbus Circle Capital Corp
Crypto investor and entrepreneur Anthony Pompliano has raised $750 million to take his company ProCap public in the US through a merger with Columbus Circle Capital Corp, a special purpose acquisition company (SPAC). Once the deal is complete, the combined company will be called ProCap Financial Inc. and is expected to hold $1 billion in Bitcoin on its balance sheet at launch.
The merger is slated to be finalized by the end of the year. Pompliano confirmed the news on social media, noting that ProCap Financial aims to accumulate Bitcoin and build services that generate revenue and profit from those holdings over time.
The $750 million funding includes $516.5 million in equity and $235 million in convertible notes. Among the backers are several well-known names in the crypto space, including FalconX, Blockchain.com, and Eric Semler, who is also the chair of Semler Scientific, a company that holds Bitcoin as part of its corporate strategy.
Today I am announcing a $1 BILLION merger to create ProCap Financial, a bitcoin-native financial services.
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…
— Anthony Pompliano 🌪 (@APompliano) June 23, 2025
Once ProCap Financial goes public, it will become one of the largest public holders of Bitcoin. Based on current market data, its planned $1 billion in BTC would place it eighth on the list of public companies by Bitcoin holdings, just ahead of Coinbase, which currently owns 9,267 BTC worth close to $974 million.
This move puts ProCap in the company of other firms making similar plays to combine public listing status with large Bitcoin holdings. MicroStrategy remains the leader with over 592,000 BTC, and more firms, including Donald Trump’s media company, have announced intentions to add crypto to their balance sheets.
The crypto IPO trend continues to pick up pace. In addition to ProCap, Twenty One Capital and Tron are among several crypto-focused firms that have revealed plans to go public through SPAC deals soon.
