ProCap BTC's 4,950 Bitcoin Holdings Valued at $585 Million Ahead of Columbus Circle Capital Merger

ProCap BTC LLC, a bitcoin-native financial services firm, has acquired 4,950 bitcoin, now valued at approximately $585 million, in anticipation of its definitive business combination with Columbus Circle Capital Corp I (NASDAQ: CCCM). This strategic acquisition precedes the formation of ProCap Financial, Inc., the publicly traded entity expected to emerge from the merger. The definitive agreement for this combination was signed on June 23, 2025.

Anthony Pompliano, founder and CEO of ProCap BTC, and slated to lead ProCap Financial, expressed enthusiasm for the merger. He stated in a recent tweet, "ProCap BTC LLC already purchased 4,950 bitcoin, rather than waiting for our deal to close. Those bitcoin are now worth ~ $585 million based on today's price." Pompliano views Bitcoin as a fundamental asset, asserting, "I believe bitcoin is the new hurdle rate. If you can't beat it, you have to buy it."

The business combination aims to establish ProCap Financial as a leading firm at the intersection of bitcoin and traditional finance. The transaction has successfully raised over $750 million from institutional and bitcoin-native investors, marking it as the largest initial fundraise in history for a public Bitcoin treasury company. A significant portion of this capital, specifically $516.5 million from preferred equity securities, was deployed by ProCap BTC to acquire its current Bitcoin treasury.

Upon the closing of the proposed transactions, ProCap Financial intends to focus on further acquiring Bitcoin for its balance sheet. The company also plans to develop various products and services designed to generate revenue and profit from its Bitcoin holdings. This move underscores a growing trend among companies to integrate Bitcoin into their corporate treasury strategies, leveraging its potential as a long-term strategic asset. The merger is expected to bring a bitcoin-focused entity to the Nasdaq exchange, reflecting evolving market perspectives on digital assets.