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Anthony Pompliano takes over his bitcoin financial platform PCAP BTC public through a fusion of $ 1 billion with Columbus Circle Capital Corp. I (CCCM), special acquisition company (SPAC) sponsored by associated Cohen & Company.
The transaction announced on Monday will build a new entity, Procap Financial, Inc., as one of the largest Bitcoin treasures ever hit by public markets.
In what is called the biggest initial fundraise for public bitcoin
Treasury Company to date, Procap has received $ 550 million in preferred capital and has provided $ 225 million in convertible notes, providing future shareholders immediate bitcoin exposure through a structure to obtain BTC before the agreement.
The aim of Procap, led by Pomplian, a well -known investor and a vocal bitcoin lawyer, is to work on the penetration of digital assets and traditional finances.
The company plans to generate profits not only by holding BTC, but by actively deploying its bitcoin balance sheets across the revenue generation strategies that alleviate the risk and earn cryptopinance infrastructure.
“The older financial system is disrupted by bitcoins,” Pompliano said in his statement. “ProCap Financial represents our solution to growing demand for bitcoin financial services among sophisticated investors.”
The merger appreciates the combined entity up to $ 1 billion, depending on the final purchase price of bitcoins at closure. PCAP BTC assets will be kept until the transaction is completed, giving investors an almost instant BTC exhibition without waiting for the company.
The transaction is expected to close by the end of 2025, waiting for SEC checks and approval of shareholders.
The Financial Times first said that Pompliano was set up to become CEO of PCAP BTC and that the company planned to obtain $ 750 million to get Bitcoins.
Read more: Anthony pompliano set up to head $ 750 million Bitcoin Investment vehicle: FT
