Pompliano’s ProCap Drops $395 Million on Bitcoin Hours After Massive Funding Round
TLDR
ProCap, founded by Anthony Pompliano, purchased 3,724 Bitcoin worth $395 million at an average price of $103,785 per token
The company raised over $750 million and is going public through a $1 billion SPAC deal with Columbus Circle Capital
ProCap plans to hold up to $1 billion in Bitcoin and build financial services around it, including lending and trading
The move follows a trend of 245 public companies now holding Bitcoin on their balance sheets, totaling over $88 billion
ProCap aims to create a Bitcoin-native financial services platform similar to traditional Wall Street firms
Anthony Pompliano’s Bitcoin treasury firm ProCap has purchased 3,724 Bitcoin worth approximately $395 million, marking the company’s first major acquisition after raising over $750 million in funding. The purchase came just one day after announcing plans to go public through a $1 billion SPAC deal.
We have purchased 3,724 Bitcoin.
This purchase happened within one day after announcing a $1 BILLION merger and over $750 million fundraise.
The average price was ~ $103,785 per bitcoin.
We believe bitcoin is the new hurdle rate.
If you can’t beat it, you have to buy it.… pic.twitter.com/eX1iI9fVhm
— Anthony Pompliano 🌪 (@APompliano) June 24, 2025
ProCap bought the Bitcoin at a time-weighted average price of $103,785 per token on Tuesday. Bitcoin was trading at around $106,000 at the time, representing a 2.1% increase over the previous 24 hours according to CoinGecko data.
The company closed its $750 million funding round on Monday, which includes $235 million in convertible debt with the remainder in equity. These funds will support ProCap’s merger with blank-check firm Columbus Circle Capital Corp. I to become ProCap Financial, a new publicly traded company.
ProCap joins a growing list of public companies adopting Bitcoin treasury strategies. Strategy, formerly MicroStrategy, pioneered this approach in 2020 under Michael Saylor’s leadership. The company has since accumulated over 592,000 Bitcoin worth approximately $62 billion.
Growing Bitcoin Treasury Trend
Data from bitcointreasuries.com shows 245 public companies now hold Bitcoin on their balance sheets, representing a 13% increase over the past month. These firms collectively hold more than $88 billion in Bitcoin. Companies like healthcare technology firm Semler Scientific and Japanese hotel management firm Metaplanet have adopted similar strategies.
Some publicly traded firms have expanded beyond Bitcoin to include altcoins. Companies like Upexi, Wellgistics Health, and DeFi Development Corp. have added XRP and Solana to their treasuries following Strategy’s playbook.
Beyond Bitcoin Holdings
ProCap plans to differentiate itself by building a comprehensive financial services platform around Bitcoin. The company aims to offer lending, trading, and capital markets services all denominated in Bitcoin, similar to traditional Wall Street firms like Goldman Sachs or Cantor Fitzgerald.
Pompliano stated the goal is to create “the leading bitcoin-native financial services company” that looks and feels like a traditional financial institution. This approach targets institutional investors who may be hesitant about pure cryptocurrency plays.
The company estimates it will hold up to $1 billion in Bitcoin at the time of its proposed merger closing. Unlike competitors still waiting for deals to close or filing regulatory paperwork, ProCap’s structure allows immediate Bitcoin purchases and direct investor exposure from day one.
ProCap’s strategy reflects what Pompliano calls a bubble forming around Bitcoin treasury plays, referencing George Soros’s approach of adding fuel to effective trends. The company positions itself as building sustainable infrastructure for a Bitcoin-based financial system rather than simply chasing momentum.
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Filed under: News - @ June 25, 2025 10:28 am