Anthony Pompliano to Lead $750 Million Bitcoin Investment Fund ProCapBTC
Anthony Pompliano will become CEO of ProCapBTC, an investment vehicle focused on acquiring large amounts of bitcoin. ProCapBTC plans to raise $750 million through a merger with Columbus Circle Capital 1, a SPAC backed by Cohen & Company.
- The capital structure includes $500 million in equity and $250 million in convertible debt.
- A deal announcement could occur as soon as next week, though negotiations are ongoing.
- Currently, 126 publicly traded companies hold approximately 820,000 bitcoins.
- If ProCapBTC's funds were entirely allocated to bitcoin, it would rank just outside the top 10 holders of the asset.
- The crypto market shows renewed interest, influenced by U.S. President Trump's pro-crypto stance.
- Recent IPO activities in the sector include Circle, which surged 168% on its first trading day, and Bullish Group pursuing an IPO.
Pompliano and Cohen & Company have not provided comments on the developments.