Key Takeaways
- Anthony Pompliano is expected to lead ProCapBTC, aiming to raise $750 million for bitcoin acquisitions.
- ProCapBTC plans to merge with Columbus Circle Capital 1, backed by Cohen & Company.
- Pompliano's prior SPAC, ProCap Acquisition, recently raised $250 million and saw share price gains.
Anthony Pompliano, a prominent bitcoin advocate, is reportedly in discussions to become CEO of ProCapBTC, a Special Purpose Acquisition Company (SPAC) that plans to raise $750 million to purchase bitcoin.
According to the Financial Times, ProCapBTC would merge with Columbus Circle Capital 1, a blank cheque company already listed on the public markets.
The ambitious fundraising effort would involve $500 million in equity and $250 million in convertible debt.
The deal, backed by investment bank Cohen & Company, could be announced as soon as next week, though terms are not yet finalized.
Major investment bank involvement
Columbus Circle Capital 1 was formed to facilitate mergers or acquisitions and successfully raised $250 million in its May 2025 initial public offering, sponsored by Cohen & Company Capital Markets.
Cohen & Company, listed on the New York Stock Exchange, has been active in the digital asset industry, providing audits and advisory services for bitcoin and related assets.
Pompliano’s SPAC experience
This development follows Pompliano’s leadership of ProCap Acquisition, a fintech-focused SPAC that debuted on the Nasdaq in April.
ProCap Acquisition raised $250 million in gross proceeds and saw its shares (PCAPU) rise from $10.60 on June 1 to $11.40 earlier this week.
As of Thursday, the stock closed at $11.30.
Pompliano has not publicly confirmed the new SPAC merger, and he did not respond to media requests for comment by the time of publication.
