Anthony Pompliano, a well-known digital assets influencer and podcast host, is set to become CEO of ProCapBTC, a new investment vehicle focused on acquiring large amounts of bitcoin, according to the Financial Times, which cited sources familiar with the discussions.
ProCapBTC aims to raise $750 million through a merger with Columbus Circle Capital 1, a special purpose acquisition company (SPAC) backed by Cohen & Company. The capital raise would consist of $500 million in equity and $250 million in convertible debt. The deal announcement could happen as early as next week, though final terms are still being negotiated.
Investing in bitcoin has grown as a treasury strategy, with 126 publicly traded companies holding nearly 820,000 bitcoins, per BitcoinTreasuries.net. For example, MicroStrategy, led by Executive Chairman Michael Saylor, holds about $61 billion in BTC. If ProCapBTC deploys its full $750 million in bitcoin purchases, it would become one of the top 10 holders of the cryptocurrency.
This development follows increased bullish sentiment in crypto markets after U.S. President Donald Trump’s election. Trump recently expressed support for cryptocurrencies and his administration’s relaxed regulations have encouraged companies to explore public listings. Notably, stablecoin issuer Circle’s stock surged 168% on its trading debut last week, and Peter Thiel-backed Bullish Group, which owns CoinDesk and Bullish Exchange, is reportedly preparing for an IPO.
Pompliano declined to comment, and Cohen & Company did not respond to requests for comment.