“Anthony Pompliano’s ProCap Gears Up for IPO with a Bold $386M Bitcoin Acquisition”

Bitcoin enthusiast and entrepreneur Anthony Pompliano is making significant moves in the realm of corporate cryptocurrency investments.

On Tuesday, ProCap BTC revealed it had secured 3,724 BTC for $386 million, shortly after announcing plans to go public this year.

The acquisition was made at a time-weighted average price of $103,785 per Bitcoin.

Bitcoin Price Surge Boosts Pompliano’s Investment to Nearly $400M

As Bitcoin prices have risen since the purchase, Pompliano’s investment is now valued at just under $400 million.

This acquisition follows ProCap’s announcement on Monday to merge with Columbus Circle Capital, a special purpose acquisition company (SPAC), to create a new entity named ProCap Financial.

Pompliano expressed on X, “We believe Bitcoin is the new hurdle rate. If you can’t beat it, you have to buy it,” highlighting the firm’s strong belief in the asset.

The firm’s strategy includes accumulating up to $1 billion in Bitcoin as part of its overall treasury approach.

Supporters of the upcoming SPAC deal have already secured over $750 million, consisting of $516 million in equity commitments and $235 million through convertible notes.

If ProCap were to go public now, its Bitcoin holdings would rank 14th among all publicly traded companies, based on BiTBO data.

It would be just behind Semler Scientific, a medical tech company that has recently ventured into Bitcoin investments.

ProCap is part of a growing influx of companies moving decisively into Bitcoin. MicroStrategy has further expanded its holdings to a total of 592,345 BTC this week.

Additionally, Japan’s Metaplanet has increased its investment to 11,111 BTC, Grant Cardone’s real estate firm has disclosed its first purchase of 1,000 BTC, and mineral exploration company Panther Metals has outlined a $5.4 million strategy combining traditional and digital asset mining.

This week has also seen Norway’s Green Minerals AS announce plans to invest $1.2 billion in Bitcoin purchases.

VanEck Raises Alarm Over BTC Treasury Strategies

Recently, Matthew Sigel, head of digital asset research at VanEck, expressed concern regarding the Bitcoin treasury strategies employed by some public companies, warning that ongoing BTC accumulation could negatively impact shareholders.

He specifically critiqued the use of at-the-market (ATM) share issuance programs, cautioning that they may become dilutive when stock prices approach the company’s Bitcoin net asset value (NAV).

Sigel suggested several steps to avoid value dilution, including halting ATM programs if a company’s stock trades below 0.95x NAV for more than 10 days.

He likened this situation to past failures in the crypto mining sector, where excessive dilution and executive compensation resulted in significant shareholder losses.

As a case study, he mentioned Semler Scientific, which entered the BTC market in 2024; despite acquiring 3,808 BTC, its stock has dipped over 45%, and its mNAV has fallen to 0.82x.

The article “Anthony Pompliano’s ProCap Buys $386M in Bitcoin Ahead of IPO” first appeared on Cryptonews.