Anthony Pompliano’s ProCap BTC just threw down $386 million on Bitcoin, buying 3,724 coins at roughly $103,785 each. They didn’t stop there—another 1,208 BTC followed at $105,977 per coin. Total haul: 4,932 Bitcoin worth nearly $400 million. This massive buy comes as ProCap prepares to go public through a SPAC merger with Columbus Circle Capital Corp, raising over $750 million in what’s shaping up to be the largest Bitcoin treasury play yet.
Anthony Pompliano’s ProCap just dropped $386 million on Bitcoin like it was pocket change. The company scooped up 3,724 Bitcoin at a time-weighted average price of roughly $103,785 per coin. Not exactly chump change, but hey, when you’re planning to go public with a $1 billion war chest, what’s a few hundred million between friends?
This massive Bitcoin buy wasn’t some random Tuesday decision. ProCap BTC, LLC is gearing up for an IPO through a merger with Columbus Circle Capital Corp. I, a NASDAQ-listed SPAC. The timing? Pretty convenient. Nothing says “we’re serious about Bitcoin” like putting nearly $400 million where your mouth is. With spot ETF approvals driving institutional adoption, the move appears strategically timed.
But wait, there’s more. ProCap didn’t stop there. They grabbed another 1,208 BTC shortly after at $105,977 per coin. Because why not double down when you’re already all-in? Their total Bitcoin stash now sits at 4,932 coins, and they’re nowhere near done. The company wants to hold up to $1 billion worth of Bitcoin once they go public.
The IPO merger raised over $750 million, making it the largest fundraise for a public Bitcoin treasury firm. That includes $516 million in equity and $235 million in convertible notes. Heavy hitters like Magnetar Capital, Woodline Partners, and Blockchain.com threw their weight behind the deal. Industry veterans Mark Yusko and Jason Williams are also backing the play.
ProCap is betting Bitcoin becomes the “new hurdle rate” for investment returns. Bold claim, but they’re putting serious money behind it. The company positions itself as a Bitcoin-native financial services firm, fundamentally turning Bitcoin holdings into their main revenue strategy. The Business Combination Agreement was signed on June 23, 2025, formalizing the merger timeline. Following the completion, the company will rebrand as ProCap Financial, Inc. to reflect its expanded public market presence.
Investors who jump into ProCap’s equity raise get immediate Bitcoin exposure without having to figure out cold storage or worry about losing their private keys. It’s Bitcoin exposure with training wheels, packaged in a public company wrapper.
The current market value of their Bitcoin holdings hovers just under $400 million, already showing gains from their purchase price. Not bad for what amounts to corporate Bitcoin speculation dressed up as financial services strategy.
