Company Overview - ProCap BTC, LLC is a bitcoin-native financial services firm founded by Anthony Pompliano, who has invested in over 300 private companies and is a prominent voice on bitcoin globally [5] - The company is in the process of a proposed $1 billion business combination with Columbus Circle Capital Corp. I to go public as ProCap Financial, Inc. [1][3] Bitcoin Acquisition - ProCap BTC has purchased 3,724 bitcoin at a time weighted average price of $103,785 per bitcoin, as part of its ongoing bitcoin purchase program [1][2] - Following the business combination, ProCap Financial is expected to hold up to $1 billion in bitcoin on its balance sheet [3] Investment Strategy - The company aims to continue acquiring bitcoin as part of its business strategy, believing that bitcoin represents a new hurdle rate for investments [3][4] - Equity investors have received immediate bitcoin exposure from the funds raised during the equity raise [2] Business Combination Details - The business combination agreement was signed on June 23, 2025, and involves multiple parties including Crius SPAC Merger Sub, Inc. and Inflection Points Inc. [7] - ProCap Financial will focus on developing profit-generating products and services tailored to the financial needs of large institutions and investors [5] Leadership and Management - Columbus Circle Capital Corp. I is led by experienced investment bankers, including Chairman and CEO Gary Quin, COO Dan Nash, and CFO Joseph W. Pooler, Jr. [6]
Anthony Pompliano's ProCap BTC, LLC Buys 3,724 Bitcoin Within One Day After Announcing $1 Billion Merger and Over $750 Million Fundraise