Anthony Pompliano, a prominent U.S. investor and entrepreneur, revealed on Monday the launch of a new bitcoin-focused financial platform designed to hold up to $1 billion worth of the digital asset.
The new firm, ProCap Financial, will emerge from a merger between Pompliano’s ProCap BTC and the SPAC Columbus Circle Capital I. The goal: to build a leading bitcoin treasury institution with a long-term strategy.
Several corporations have begun integrating bitcoin into their balance sheets to mirror the model adopted by software giant MicroStrategy. That company began amassing bitcoin in 2020 and currently holds over $63 billion in digital assets, fueling industry-wide interest in similar treasury plays.
The announcement also comes as the US President Donald Trump renews efforts to shape cryptocurrency policies. On the campaign trail, he has supported the idea of a U.S. bitcoin reserve, while attracting political donations from the crypto sector.
Pompliano claimed that ProCap BTC has already secured $500 million in equity commitments and another $250 million in convertible notes, calling it the largest initial raise for any bitcoin treasury business to date.
Unlike other firms focused solely on holding crypto assets, Pompliano explained that ProCap Financial will leverage its bitcoin holdings to generate income. Planned initiatives include crypto lending, derivatives, and other revenue-generating financial instruments.
Top institutional backers reportedly include Citadel, Susquehanna, Jane Street, and Magnetar. Crypto investment firms like Pantera, Coinfund, Parafi, Off the Chain Capital, Blockchain.com, and FalconX are also said to be on board.
Reuters could not confirm the investments from these named firms.
“We are watching bitcoin disrupt the traditional financial system,” Pompliano said. “ProCap Financial aims not only to accumulate bitcoin but also to build a profitable, risk-managed ecosystem around it.”
