Anthony Pompliano Set to Head $750M Bitcoin Investment Vehicle: FT

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coindesk
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5 days ago


Anthony Pompliano, a digital assets influencer and podcast host, is set to become CEO of ProCapBTC, a new investment vehicle aiming to acquire large amounts of bitcoin BTC, according to the Financial Times, which cited three people familiar with the talks.

Under the proposed deal, ProCapBTC plans to raise $750 million, $500 million in equity and $250 million in convertible debt, in a merger with Columbus Circle Capital 1, a special purpose acquisition company (SPAC) backed by Cohen & Company, the FT said.

A deal could be announced as early as next week, although negotiations are still in progress and final terms uncertain.

Bitcoin buying has become an increasingly popular treasury strategy, with 126 publicly traded companies now holding almost 820,000 bitcoin, according to BitcoinTreasuries.net. Strategy (MSTR), the software maker whose Executive Chairman Michael Saylor pioneered the approach now holds $61 billion worth of BTC. If all ProCapBTC's $750 million was spent on bitcoin, it would rank just outside the top 10 holders of the largest cryptocurrency.

The move reflects renewed enthusiasm in crypto markets following the election of U.S. President Donald Trump, who on Thursday said it's an "honor" to be considered a pro-crypto president. His administration's easing of rules governing the industry has prompted a number of companies to consider selling shares to the public. Last week, stablecoin issuer Circle (CRCL) rose 168% on its first day of trading and the Peter Thiel-backed Bullish, is reportedly pursuing an IPO. Bullish Group is the parent of both CoinDesk and Bullish Exchange.

Pompliano declined to comment to the FT, and Cohen & Company did not respond to its request for comment.



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