Anthony Pompliano’s ProCap Appears Better Than Peers Based on the BTC HODLer's Own Data
2025-07-09 10:05:19
Main Idea
ProCap BTC, now the 13th largest public bitcoin holder, has entered into a $1 billion merger with CCCM, offering investors both downside protection and upside potential.
Key Points
1. ProCap has amassed a treasury of 4,950 BTC, making it the 13th largest public bitcoin holder.
2. The company's stock is trading at the lowest implied mNAV premium among bitcoin treasury companies at 1.3x, suggesting it may be undervalued.
3. If ProCap's mNAV premium rises to match that of Cantor Equity Partners (2.2x), the post-deal stock price could reach about $17.82 per share.
4. The merger agreement includes a right to redeem $10 per share, with a maximum loss of around $10 according to Anthony Pompliano.
Description
Anthony Pompliano's ProCap , recently shared an update on its progress and valuation metrics. ProCap has entered into a $1 billion business combination agreement with Columbus Circle Capital Corp 1 (CCCM). As part of the deal, ProCap has raised over $750 million and already deployed more than $500 million to purchase bitcoin (BTC), amassing a treasury of 4,950 BTC. This makes ProCap, the 13th largest public holder of bitcoin globally. The data and analysis presented by Pompliano comes directly f...
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