Pompliano’s $1B SPAC Deal Aims to Turn Bitcoin Holdings Into a Business Model

A bitcoin coin.

Crypto evangelist and social media figure Anthony “Pomp” Pompliano just pulled the curtain back on a bold $1 billion SPAC merger to create ProCap Financial—a Bitcoin-native financial firm that’s not just HODLing, but planning to build an actual business around its BTC stash. The firm will go public via a merger with Columbus Circle Capital (CCCM), landing it on the Nasdaq alongside other Bitcoin-heavy hitters.

Unlike companies that simply sit on Bitcoin as a long-term bet, Pompliano’s vision is a bit more ambitious. He says ProCap won’t just stockpile BTC; it’s going to develop services that put that Bitcoin to work, generating revenue and profit from its holdings. That means exploring yield strategies, financial products, and maybe even enterprise offerings—all with Bitcoin at the core.

Pompliano revealed that he’s already raised $750 million from Wall Street institutions and crypto insiders. Add in another few hundred million from equity and convertible notes, and ProCap’s war chest looks hefty. It’s also entering the spotlight during a surge in corporate Bitcoin adoption—Trump Media and GameStop recently made headlines for adding BTC to their balance sheets.

But while the move is bold, it’s not without risk. Analysts at Coinbase have warned that the trend of Bitcoin-rich companies could introduce systemic risk if prices take a nosedive—especially since many of these firms take on debt to fund their buys. Still, with Bitcoin hovering around $102K and over $85 billion in BTC now held by public companies, ProCap is diving in while momentum is strong.