ProCap BTC, founded by Anthony Pompliano, has entered into a definitive agreement to become a publicly listed company through a merger with special purpose acquisition company Columbus Circle Capital Corp. I. The transaction aims to enhance liquidity for ProCap BTC’s Bitcoin treasury operations while establishing a novel public vehicle for institutional-grade Bitcoin exposure.
The company targets holding up to $1 billion in Bitcoin reserves and will implement yield-generating strategies to maximize asset value. To support this initiative, ProCap BTC has secured $516.5 million through non-voting preferred units and arranged $235 million in zero-coupon convertible notes, providing substantial financial flexibility.
Notable institutional investors including Blockchain.com have endorsed the public listing, signaling strong market confidence in the venture. The SPAC merger is anticipated to finalize by year-end, positioning ProCap BTC as a pioneering entity in publicly traded Bitcoin treasury management with enhanced regulatory transparency.