Anthony Pompliano is poised to lead ProCapBTC, an entity aiming to raise $750 million through a SPAC to solely purchase Bitcoin.
The project comes in a crypto-friendly environment, backed by Trump’s support, market enthusiasm, and the resurgence of crypto IPOs like Bullish, Circle, or Gemini.
ProCapBTC aspires to be a “new MicroStrategy”, serving as a publicly-traded proxy for Bitcoin exposure, with Pompliano as the institutional face of “hard money”.
Pompliano on the Verge of Leading a Public Giant
Anthony Pompliano is no longer just commenting on the crypto ecosystem to his 1.7 million followers on X. He is about to become one of its direct players. According to FT, the American influencer is on the brink of taking the helm at ProCapBTC, an entity that aims to raise $750 million to buy… Bitcoin. Yes, a three-quarters of a billion fundraising, solely to accumulate BTC.
Behind this titanic operation: a SPAC (Special Purpose Acquisition Company), Columbus Circle Capital 1, went public in late May for an initial amount of $250 million. This investment vehicle is backed by Cohen & Company, a discreet yet effective New York investment bank. The goal: raising $500 million in shares and $250 million through convertible debt, to fund a strategy inspired by Michael Saylor or Metaplanet: stacking Bitcoin as if it were digital gold.
Trump, Markets… and the Return of the ‘Narrative Bull Market’
This deal doesn’t happen by chance. Since Donald Trump openly supports crypto, the market’s appetite for projects related to digital assets has surged. Even Truth Social, the former president’s platform, recently raised billions.
Pompliano is riding this wave. He himself has raised $220 million for another unrelated SPAC. If the discussed deal is confirmed in the coming days, he will take the reins of this new Bitcoin buying machine, amidst political and speculative excitement.
Crypto IPOs are also resurfacing. Bullish exchange, backed by Peter Thiel, has filed a confidential request to go public. On the other hand, Gemini and Circle are reviving the momentum with explosive figures, +170% for Circle on its first day of trading and strong demand for Gemini.
Towards a New MicroStrategy?
The plan for ProCapBTC is clear: emulate MicroStrategy’s maximalist Bitcoin strategy. The idea? Buying BTC with traditional market money, skyrocketing the company’s valuation… and becoming a publicly traded proxy to bet on Bitcoin without buying it directly.
Pompliano, a staunch Bitcoin advocate for years, could thus become the new institutional face of crypto, merging the power of stock markets with the ‘hard money’ philosophy.
No official announcement yet, but negotiations are well underway. If the deal is successful, it would send a strong signal to the crypto industry: Wall Street is once again buying Bitcoin. But this time, massively.
