U.S. crypto evangelist Anthony Pompliano announced the launch of ProCap Financial, a new bitcoin treasury company formed through a merger between his firm ProCap BTC and Columbus Circle Capital I.
The company aims to hold up to $1 billion worth of bitcoin on its balance sheet, mimicking corporate strategies popularized by bitcoin-hoarder poster child MicroStrategy.
Pompliano claims to have raised $750 million—$500 million in equity and $250 million via a convertible note—allegedly the biggest haul ever for a bitcoin treasury startup.
Unlike its predecessors, ProCap Financial won’t just sit on digital gold but intends to milk it through lending, derivatives, and assorted financial trickery to generate revenue.
Institutional giants like Citadel, Susquehanna, Jane Street, and crypto firms such as Pantera and FalconX were named as investors, though Reuters noted it couldn’t confirm any of their involvement.
The announcement rides a wave of crypto hype as Donald Trump pushes for a national bitcoin reserve to curry favor with digital asset donors ahead of elections.
Pompliano positions ProCap as a vehicle to disrupt traditional finance while turning crypto hoarding into a full-blown profit machine.
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