ProCap Raises $750M, Plans $1B Bitcoin Holdings Post-Merger

- ProCap will hold $1B in Bitcoin post-merger. - ProCap raised $750M via SPAC with Columbus Circle Capital. On June 23, 2025, GlobeNewswire reported that Anthony Pompliano's bitcoin-native financial services firm, ProCap BTC, LLC, has entered a definitive merger agreement with Columbus Circle Capital Corp. I (NASDAQ: CCCM), a special purpose acquisition company (SPAC). The resulting entity, ProCap Financial, Inc., projects it will hold up to $1 billion in Bitcoin on its balance sheet. GlobeNewswire also reported on June 23, based on the associated press release, that Anthony Pompliano will lead ProCap Financial. The firm’s strategy involves acquiring Bitcoin, and it will also employ risk-mitigated approaches to generate revenue and profits from its holdings. The same press release detailed that ProCap BTC and Columbus Circle Capital Corp. raised a combined total of over $750 million. This fundraising, which included $516.5 million in equity and $235 million in convertible notes, was provided by leading institutional and bitcoin-native investors and represents the largest initial fundraise ever for a Bitcoin treasury company. On June 23, Cointelegraph also reported on these developments. On the same day, PYMNTS.com reported the news, and AInvest also provided coverage on June 23. Reports from these outlets continued on June 24. The business combination requires regulatory approval and other customary closing conditions, and the involved parties expect to complete the transaction by the end of 2025.