Anthony Pompliano Pushes to Form $1 Trillion SPAC for Massive Bitcoin Purchases

Cryptocurrency investor Anthony Pompliano is reportedly raising funds of up to $750 million (approximately 1.0425 trillion won) to launch a new investment vehicle for large-scale BTC purchases. Currently, Pompliano is in discussions about the CEO position of ProCapBTC, a Special Purpose Acquisition Company (SPAC) that plans to merge with the publicly listed 'Columbus Circle Capital 1' on the US stock market. The Financial Times reported on the 13th (local time) that ProCapBTC is pursuing a $500 million (approximately 695 billion won) equity investment and a $250 million (approximately 347.5 billion won) convertible bond issuance during the merger with Columbus Circle. The merger between the two companies could be announced as early as next week, though specific conditions have not yet been finalized. Columbus Circle Capital 1 is a blank check company established with the purpose of combining with emerging companies through various methods such as mergers, equity exchanges, asset acquisitions, and restructuring. This SPAC previously raised $250 million (approximately 347.5 billion won) through an initial public offering (IPO) led by JVB Financial Group, a broker-dealer subsidiary under Cohen & Company in May 2025. Cohen & Company is a US investment bank listed on the New York Stock Exchange (NYSE) that has been prominent in the digital asset industry in recent years. The bank has provided audit, tax, and advisory services across various fields including cryptocurrencies, Non-Fungible Tokens, DeFi, and token offerings. This project is Pompliano's second SPAC business. He previously led the ProCap acquisition listed on NASDAQ, which completed its listing on May 21st, selling 25 million units at $10, raising a total of $250 million (approximately 347.5 billion won). ProCap stock showed an upward trend in June, rising from $10.6 to $11.4 and closing at $11.3 on the 13th. Pompliano is known as an influential investor in the cryptocurrency industry and has been an active Bitcoin supporter in recent years. This move to establish a Bitcoin investment platform is seen as another attempt to strengthen the connection between institutional funds and the cryptocurrency market.