Boston, June 23, 2025: In a landmark move that signals growing institutional confidence in digital assets, U.S. entrepreneur and crypto advocate Anthony Pompliano has unveiled the formation of a new bitcoin treasury company, ProCap Financial, following a $1 billion merger deal and substantial fundraising round.
ProCap Financial will be created through the merger of Pompliano’s financial services firm, ProCap BTC, with the special purpose acquisition company Columbus Circle Capital I (CCCM.O). The resulting entity is positioned to become one of the largest bitcoin-holding public firms in the United States, according to a statement released on Monday.
“We are witnessing the disruption of the legacy financial system by bitcoin in real-time,” Pompliano said in the statement. “This is our opportunity to develop a platform that doesn’t just hold bitcoin, but actively works it into the fabric of financial products that create lasting, sustainable revenue.”
Raising Capital at Unprecedented Scale
As part of the merger, ProCap BTC has secured a combined $750 million in capital—$500 million in equity funding and an additional $250 million via a convertible note. The capital injection represents what Pompliano termed “the largest initial fundraising in history for a bitcoin treasury company.”
ProCap Financial aims to build a new model for crypto-treasury management. While companies like MicroStrategy have focused primarily on the accumulation and long-term holding of bitcoin, ProCap’s strategy expands beyond passive investment.
According to Pompliano, ProCap Financial will actively utilize its bitcoin reserves to generate revenue through financial instruments such as lending, derivatives, and other blockchain-enabled services.
“This isn’t just about buying and holding,” Pompliano emphasized. “We’re building an ecosystem around bitcoin that allows us to responsibly generate yield while preserving long-term exposure to the asset.”
Big-Name Backers—But Still Unverified
Pompliano claimed that the firm has secured commitments from several major institutional players, including Citadel, Susquehanna, Jane Street, and Magnetar, as well as leading digital asset investors such as Pantera Capital, CoinFund, Parafi Capital, Blockchain.com, FalconX, and Off the Chain Capital.
However, Reuters has not independently verified whether these firms have indeed invested or committed funds to ProCap Financial. None of the named institutions provided comments before publication.
Strategic Timing Amid Political Winds
The launch comes at a time when the U.S. political climate is increasingly friendly toward digital assets. Former President Donald Trump, who is seeking re-election, has openly embraced the cryptocurrency sector during his campaign, including floating the idea of establishing a national strategic bitcoin reserve.
The initiative is part of a broader attempt to position the U.S. as a leader in blockchain technology and digital finance at a time when other nations, particularly in Asia and the Middle East, are making rapid advances in adoption and regulation.
While the U.S. Securities and Exchange Commission (SEC) continues to scrutinize crypto activity, momentum around regulatory clarity has grown in recent months, including support for spot bitcoin ETFs and institutional-grade custodial solutions.
The Rise of Bitcoin Treasury Firms
The concept of a bitcoin treasury strategy—holding bitcoin on corporate balance sheets as a hedge against inflation and currency debasement—gained mainstream attention when MicroStrategy began accumulating bitcoin in 2020 under the leadership of Michael Saylor. The company now holds over $63 billion worth of bitcoin, fueling a wave of imitators across both public and private sectors.
Pompliano’s ProCap Financial aims to take the idea further by not only building a large reserve but also deploying its bitcoin assets in strategic, revenue-generating mechanisms.
Analysts have noted that such a business model introduces both opportunities and risks. While lending and derivative trading can produce high returns, they also expose the firm to market volatility, counterparty risk, and regulatory uncertainty.
“There’s real potential here for innovation in how digital assets are used within corporate finance,” said Janet Lin, a fintech analyst at Beacon Research. “But it’s essential that risk is carefully managed, especially when dealing with such a volatile asset.”
Looking Ahead
Pompliano’s track record as a prominent bitcoin evangelist and investor is likely to draw attention from across both the crypto-native and traditional finance worlds. He co-founded Morgan Creek Digital and has long championed bitcoin as a superior form of money and store of value.
With ProCap Financial, Pompliano seeks to institutionalize those beliefs at scale.
“Bitcoin is no longer just a speculative asset,” Pompliano said. “It is becoming the core of modern financial infrastructure. And ProCap aims to be at the center of that transformation.”
While the company’s success will ultimately depend on execution, the ambitious $1 billion merger marks a significant step in the continued convergence between Wall Street and the blockchain economy.
