Anthony Pompliano, a prominent advocate for Bitcoin and a notable entrepreneur, has made a significant move into the realm of corporate cryptocurrency ownership.
Key Points:
– ProCap BTC has acquired 3,724 BTC for $386 million in anticipation of its planned IPO through a SPAC merger.
– Currently, the company’s Bitcoin holdings are valued at nearly $400 million as prices for the cryptocurrency continue to rise.
– ProCap intends to amass up to $1 billion in Bitcoin, aligning itself with an increasing trend among corporate treasury investors.
On Tuesday, Pompliano’s firm, ProCap BTC, announced the acquisition of 3,724 BTC for a total of $386 million. This transaction occurred just days following the company’s announcement of plans to go public later this year.
The Bitcoin purchase was executed at a time-weighted average price of approximately $103,785 per coin.
Bitcoin Value Surge Boosts Pompliano’s Holdings
As Bitcoin values have escalated since the acquisition, Pompliano’s investment has now approached nearly $400 million.
This acquisition coincided with Monday’s announcement that ProCap is set to go public via a merger with Columbus Circle Capital, a special purpose acquisition company (SPAC), creating a new entity known as ProCap Financial.
“We regard Bitcoin as the new hurdle rate. If you can’t outperform it, then you must buy it,” Pompliano emphasized in a post on X, highlighting the firm’s strong belief in the cryptocurrency.
We have purchased 3,724 Bitcoin.
This purchase happened within one day after announcing a $1 BILLION merger and over $750 million fundraise.
The average price was ~ $103,785 per bitcoin.
We believe bitcoin is the new hurdle rate.
If you can’t beat it, you have to buy it.… pic.twitter.com/eX1iI9fVhm
— Anthony Pompliano (@APompliano) June 24, 2025
ProCap’s strategy includes accumulating up to $1 billion in Bitcoin as part of its comprehensive treasury plan.
Supporters of the upcoming SPAC transaction have already secured over $750 million, comprising $516 million in equity commitments along with $235 million provided through convertible notes.
If ProCap were to go public today, its Bitcoin holdings would rank as the 14th largest among publicly traded companies, based on BiTBO data.
This would place it just behind Semler Scientific, a med-tech company that recently began investing in Bitcoin.
ProCap’s entry into the market aligns with a growing trend of companies making aggressive investments in Bitcoin. Notably, MicroStrategy has expanded its Bitcoin holdings to 592,345 BTC this week.
In Japan, Metaplanet increased its BTC holdings to 11,111, while Grant Cardone’s real estate firm made its initial purchase of 1,000 BTC. Additionally, mineral exploration company Panther Metals outlined a $5.4 million strategy that integrates traditional mining with digital asset investments.
Moreover, Green Minerals AS, based in Norway, announced its intention to allocate $1.2 billion for Bitcoin acquisitions this week.
Cautions Raised Over Bitcoin Treasury Strategies
Recently, concerns have been voiced by VanEck’s head of digital asset research, Matthew Sigel, regarding the Bitcoin treasury approaches adopted by some public firms. He warned that persistent accumulation of Bitcoin could potentially harm shareholders in the long run.
Sigel criticized the deployment of at-the-market (ATM) share issuance programs, cautioning that such strategies could lead to dilution when stock prices move closer to the firm’s Bitcoin net asset value (NAV).
To mitigate value decline, he recommended several strategies, such as suspending ATM programs if a company’s stock trades below 0.95x NAV for an extended period.
Sigel drew parallels to past troubles in the crypto mining industry, where issues of excessive dilution and high executive compensation resulted in significant shareholder losses.
As a case in point, he cited Semler Scientific, which ventured into the Bitcoin space in 2024 and, despite securing 3,808 BTC, has seen its stock plummet over 45%, with its mNAV falling to 0.82x.
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