- ProCap to start offering Bitcoin-native financial services to the public by the end of 2025.
- Financial companies follow MicroStrategy’s lead on Bitcoin adoption.
Antony Pompliano, the co-founder of Morgan Creek Digital Assets, announced a $1 billion merger to create ProCap Financial, Bitcoin-native financial services. The company will go public via a merger between his private entity ProCap BTC, LLC and SPAC company Columbus Circle Capital Corp.
The new firm will be publicly traded on Nasdaq under the ticker $CCCM upon completion of the business combination. This deal is expected to close by the end of 2025, pending SEC review and shareholders’ approval.
According to a post Pompliano shared on his X account, ProCap BTC raised $500 million in preferred equity and $250 million in convertible notes. This makes it the largest amount of capital raised ever by a publicly-traded Bitcoin company. He said that the company will use its Bitcoin balance sheet to make profits and generate revenue through yield-generating strategies that alleviate risk.
“The legacy financial system is being disrupted by Bitcoin. ProCap Financial represents our solution to the increasing demand for bitcoin‑native financial services among sophisticated investors.” Pompliano shared in a statement.
This is a move expected to align with a broader institutional trend in Bitcoin treasury strategies.
See Related: Donald Trump Promises National Bitcoin Reserve To Secure US Lead Over China
Bitcoin Goes Boardroom
ProCap’s bold shift to stack Bitcoin isn’t an outlier, but part of a growing corporate trend. According to Geoff Kendrick, Standard Chartered’s global head of digital asset research, 61 public companies are emulating MicroStrategy’s approach of holding BTC as a treasury asset.
The institutional adoption is seen as a change of mindset, as Bitcoin is no longer a speculative play, but a financial hedge and credibility marker. Kendrick predicts that this trend will boost Bitcoin demand and drive up its price.
