ProCapBTC is looking to raise a total of $750 million through a merger with Columbus Circle Capital 1, a SPAC backed by Cohen & Company, which includes $500 million in equity and $250 million in convertible debt.

Anthony Pompliano, a notable figure in the crypto industry, is set to become the CEO of ProCapBTC, focusing on significant bitcoin acquisitions.

The anticipated merger is expected to be announced as soon as the week of June 19, 2025, although final terms are still being negotiated.

This renewed interest in the cryptocurrency market is partly fueled by recent supportive statements from U.S. President Donald Trump, following his election.

Trump's administration has begun to relax regulations on the crypto industry, encouraging companies to pursue public offerings, as evidenced by Circle's impressive 168% increase on its first trading day.

The Bullish Group, backed by Peter Thiel, is also pursuing an IPO, reflecting the growing enthusiasm for digital assets in the financial markets.

Currently, 126 publicly traded companies hold nearly 820,000 bitcoin, highlighting a trend of adopting bitcoin as a treasury strategy.

If ProCapBTC fully invests the $750 million it aims to raise in bitcoin, it would position itself just outside the top 10 largest holders of the cryptocurrency.

Pompliano has a significant following, with 1.7 million followers on X and 620,000 YouTube subscribers, recognized for his entrepreneurial efforts in the cryptocurrency space.

Shares of ProCap Acquisition have seen notable growth recently, rising from $10.60 to $11.30 in June 2025.

Columbus Circle Capital 1, the SPAC involved in the merger, recently went public on the Nasdaq after raising $250 million through an upsized initial public offering in May 2025.

ProCapBTC plans to utilize the capital raised primarily for bitcoin acquisitions, although the relationship between ProCapBTC and Pompliano's previously launched ProCap Acquisition Corp remains unclear.