Bitcoin-focused financial firm ProCap BTC, founded by crypto evangelist Anthony Pompliano, has made its first major bet on the digital asset — just days after announcing its intention to go public. The firm revealed on Tuesday that it acquired 3,724 Bitcoin (BTC) for $386 million, at a time-weighted average price of $103,785 per BTC.
With Bitcoin’s price ticking upward since the purchase, the investment is now valued at nearly $400 million.
Public Listing in Sight via SPAC Merger
The purchase comes on the heels of ProCap’s announcement on Monday that it plans to go public later this year. The firm is set to merge with special purpose acquisition company (SPAC) Columbus Circle Capital, rebranding as ProCap Financial.
This move positions ProCap among a rising tide of crypto-native firms embracing public markets to fuel growth and adoption.
Pompliano: “Bitcoin Is the New Hurdle Rate”
Pompliano, a long-time Bitcoin bull and media figure, emphasized the firm’s strategic outlook in a post on X (formerly Twitter), stating: “We believe Bitcoin is the new hurdle rate. If you can’t beat it, you have to buy it.”
His statement reflects a growing corporate mindset that sees Bitcoin as a benchmark asset in its own right — not merely a speculative investment.
ProCap Aiming for $1 Billion in BTC Holdings
The recent acquisition is only the beginning. ProCap BTC plans to accumulate as much as $1 billion worth of Bitcoin on its balance sheet, joining an expanding list of companies, including MicroStrategy and Tesla, that have adopted BTC as part of their corporate treasury strategy.
As ProCap prepares for its public market debut, its bold Bitcoin play signals growing institutional conviction in the long-term role of digital assets in financial infrastructure.
