Anthony Pompliano Raises Over $750M to Launch Bitcoin Treasury Firm

Anthony Pompliano, a prominent bitcoin advocate and former Facebook employee, has secured over $750 million to publicly take his bitcoin-focused company, ProCap BTC, and build a treasury-backed financial firm. The capital will support the firm’s strategy of acquiring and actively deploying up to $1 billion worth of bitcoin.

ProCap is going public through a merger with special-purpose acquisition company (SPAC) Columbus Circle Capital Corp. I. The deal will establish ProCap Financial Inc. as a publicly traded business centered on holding and monetizing BTC through lending and other crypto-based financial services.

Pompliano’s ProCap Raises Over $750M for BTC Treasury

To execute its strategy, ProCap raised $516.5 million through a private placement of non-voting preferred units. It also secured $235 million in zero-coupon convertible bonds, bringing total capital raised to over $750 million.

According to Pompliano, the deal is backed by crypto-native and traditional finance players, including Magnetar Capital, Woodline Partners, Anson Funds, and Blockchain.com. The SPAC with which it is merging raised $250 million in its May 2025 IPO. Separately, a blank-check firm led by Pompliano also secured $250 million, reflecting broad investor appetite for bitcoin-focused ventures.

The merger is expected to close by the end of 2025. Once completed, ProCap Financial Inc. will become one of the largest publicly traded firms committed to building a bitcoin-centric balance sheet and operating model.

IoT Firm Sequans Joins Bitcoin Treasury Trend

In a parallel development, Paris-based IoT company Sequans Communications has announced plans to adopt Bitcoin as a treasury asset. On Monday, the firm outlined a funding package worth nearly $384 million, split between equity and convertible bond offerings.

Sequans aims to raise approximately $195 million through the issuance of equity securities and $189 million via zero-coupon bonds. This mirrors the equity-and-debt strategy made popular by companies like Strategy.

A strong belief in the asset’s long-term potential is what drives the company’s BTC strategy. It expects bitcoin’s unique characteristics to strengthen financial resilience and deliver lasting shareholder value.

Sequans joins many public companies that are turning to bitcoin to hedge their balance sheets and amplify exposure to crypto markets. The announcement coincided with Strategy’s latest purchase of 245 BTC, continuing its long-term accumulation.

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