Anthony Pompliano’s crypto venture, ProCap, has kicked off its aggressive Bitcoin accumulation strategy with a purchase of 3,724 BTC—worth $386 million at the time of acquisition. The announcement comes just days after ProCap revealed plans to go public, positioning the firm at the forefront of a new wave of institutional Bitcoin adoption.
Acquired at an average price of $103,785 per Bitcoin, the value of the holding has already approached $400 million amid renewed bullish momentum. Pompliano framed the move as a strategic financial shift, stating on X,
“Bitcoin is the new hurdle rate. If you can’t beat it, you have to buy it.”
The acquisition marks the initial step in ProCap’s broader plan to allocate up to $1 billion in BTC to its corporate treasury.
$750M SPAC Merger Clears Path for Public Listing
To finance the Bitcoin treasury and accelerate its path to public markets, ProCap has completed a merger with Columbus Circle Capital, a special purpose acquisition company (SPAC). The deal secured $750 million in funding, including $516 million in equity financing and $235 million in convertible notes.
SPAC mergers have become a preferred method for crypto and tech firms looking to bypass the complexities of traditional IPOs. Upon completion, ProCap is expected to become the 14th-largest public company holder of Bitcoin—just behind Semler Scientific—according to data from BiTBO. The listing would mark another milestone in legitimizing Bitcoin as a corporate treasury asset.
The Corporate Bitcoin Rush Intensifies
ProCap’s move is the latest in a string of high-profile Bitcoin acquisitions by public and private firms. MicroStrategy remains the undisputed leader with 592,345 BTC. Close behind are newer entrants like Japan’s Metaplanet, which recently increased its holdings to 11,111 BTC.
This week, real estate mogul Grant Cardone announced his company’s entry into the crypto market with a 1,000 BTC purchase. Beyond finance and tech, companies in non-traditional sectors are also making bold moves. Mineral exploration firm Panther Metals disclosed a $5.4 million BTC investment plan, while Green Minerals, a Norwegian deep-sea mining company, unveiled a staggering $1.2 billion Bitcoin allocation strategy.
This growing institutional interest reinforces Bitcoin’s emergence as a long-term store of value across diverse sectors—bridging the gap between digital assets and corporate finance.
Quick Facts
- ProCap BTC has acquired 3,724 BTC for $386 million, with the value already nearing $400 million due to market gains.
- The firm aims to allocate up to $1 billion in Bitcoin as part of its long-term treasury strategy.
- A $750 million SPAC merger with Columbus Circle Capital will take ProCap public, bypassing traditional IPO routes.
- ProCap joins companies like Metaplanet, Grant Cardone’s firm, and Green Minerals in the expanding wave of corporate Bitcoin adoption.
