Anthony Pompliano is set to lead a new Bitcoin investment outfit that plans to raise $750 million. His move comes as big sums flow back into crypto under a friendly White House. Investors are watching closely.
According to the Financial Times, Pompliano will become chief executive of ProCapBTC. The firm wants to gather $500 million in equity and add $250 million in convertible debt.
It will do this by merging with blank‑cheque company Columbus Circle Capital 1, which went public with a $250 million IPO in late May. Pompliano has already pulled in $220 million for a separate SPAC this year.
Based on reports, Columbus Circle Capital 1 got support from Cohen & Company, an investment bank in New York. That partnership gave ProCapBTC a fast track into public markets.
Pompliano’s last SPAC move closed in under six months, so investors see a quick timetable here. The blank‑cheque route has become a popular way to raise cash for Bitcoin buys without the usual paperwork of an IPO.
ProCapBTC’s plan mirrors what Michael Saylor’s MicroStrategy (rebraded to Strategy) did, and what Japan’s Metaplanet has tried. By blending equity with convertible debt, the group can boost its buying power.
But this mix comes with risk. If Bitcoin falls, the debt could convert into shares at a discount, cutting into early backers’ stakes. Pompliano will need to manage that balance carefully if he wants to hit the $750 million goal.
This push is part of a broader wave of crypto listings. Earlier this week, Peter Thiel‑backed Bullish filed for a US IPO, and Gemini—the platform run by the Winklevoss twins—also filed plans to go public.
Stablecoin issuer Circle saw its shares jump over 150% on their trading debut. All of this points to a revival in US markets for crypto firms.
Investors aren’t just looking at balance sheets. They’re watching politics too. US President Donald Trump has spoken favorably about digital assets during his second term. That has sent fresh capital into crypto names, including Trump’s own social media company.
Pompliano even warned against Trump’s threat to oust Federal Reserve Chair Jerome Powell last month, saying it would set a bad precedent for US central bank independence.
Bitcoin has been hovering near $105,000, with swings of up to 8% in a day. Dropping hundreds of millions into the market at once could nudge the price up, making buys more expensive. ProCapBTC might spread purchases over weeks or use futures to soften the impact, but details are scarce for now.
Featured image from Getty Images, chart from TradingView
