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Pompliano-Linked ProCap Buys 3,724 BTC as It Prepares for $1 B SPAC Debut
- ProCap acquired 3,724 BTC for US$395M just one day after announcing a US$1B SPAC merger with Columbus Circle Capital, aiming to become a public, Bitcoin-focused financial firm.
- Founder Anthony Pompliano framed Bitcoin as the new financial benchmark, stating, “If you can’t beat it, you have to buy it”.
- The move aligns with a growing trend of public companies, like Strategy, Semler, and Metaplanet. Over US$88B is now held by firms globally.
Just a day after revealing plans to go public in a US$1B (AU$1.53B) SPAC merger, ProCap, the Bitcoin-focused treasury firm founded by Anthony Pompliano, deployed nearly half a billion dollars into BTC.
The company acquired 3.724 BTC on Tuesday, paying an average of US$103.785 (AU$158,825) per coin, bringing the total deal value to roughly US$395M (AU$608M). In a post on X, Pompliano framed Bitcoin as the benchmark. “We believe bitcoin is the new hurdle rate. If you can’t beat it, you have to buy it”, he said.
Related: Michael Saylor Predicts Bitcoin to Reach $21 Million in 21 Years
The move followed ProCap’s merger announcement with Columbus Circle Capital Corp, a SPAC deal that included a US$750M (AU$1.15B) capital injection.
The newly formed entity, ProCap Financial, Inc., will carry Bitcoin directly on its balance sheet and plans to build a long-term BTC treasury position. The company said it will continue accumulating as it transitions into a public firm offering institutional-grade Bitcoin infrastructure and services.
ProCap Joins Growing Number of Corporate HODLers
ProCap’s aggressive entry joins a growing list of public companies adopting Bitcoin as a primary treasury asset. Strategy remains the largest, now holding more than 592.000 BTC valued at over US$62B (AU$95.3B).
According to bitcointreasuries.com, public firms now hold over US$88B (AU$135B) worth of BTC, a figure that’s risen 13 % in the past month. New entrants like Semler Scientific and Metaplanet have followed the Saylor model: buy Bitcoin, list it on the balance sheet, and let the market narrative do the rest.
Related: Europe Surges Ahead in Crypto Adoption as France Eyes Nation-State Bitcoin Reserve
Author
José Oramas
José is a journalist and translator with a keen interest in blockchain and cryptocurrencies.
