365int
Anthony Pompliano just pulled off a billion-dollar Bitcoin move.
His new company, ProCap Financial, is merging with Columbus Circle Capital Corp. (CCCM). The deal? $751 million raised—$516.5M in equity and $235M in notes. This is the biggest first funding ever for a public Bitcoin treasury company.
Once finalized, ProCap plans to stack up to $1 billion worth of Bitcoin on its books. That’s some serious sat stacking.
They’ll offer financial services around Bitcoin. Clients? Big-money institutions. Revenue will come from smart strategies using BTC, but with low risk.
Pompliano didn’t hold back:
“Old-school finance is getting wrecked by Bitcoin,” he said.
He believes ProCap will meet the rising need for Bitcoin-native services for pro investors. Their plan? Buy Bitcoin, hold it, and make money from it—without doing anything reckless.
Big names like Magnetar Capital, Woodline Partners, Anson Funds, and Blockchain.com are already in.
Bitcoin will be bought within 15 days of final agreement. Until the deal wraps up, the assets will chill in custody.
The notes come with sweet terms: 130% conversion rate, no interest, 3 years to maturity, and backed with double the value in Bitcoin or cash.
Deal’s expected to close by end of 2025, pending the usual approvals from the SEC and CCCM’s shareholders.
Gary Quin from CCCM says Pompliano is the perfect fit:
“From day one, we wanted a visionary leader and we got him.”
Pompliano’s been riding the Bitcoin bull for years. He’s known for saying Bitcoin is where smart money saves, while people spend stablecoins because they won’t grow.
And yes—he predicted the 2023 Bitcoin rally tied to institutional adoption and ETF buzz. Looks like he was right.
