"Institutional Coin Hoarding Trend" Crypto KOL Anthony Pompliano is said to take over as CEO of ProCapBTC, planning to raise $750 million All in BTC.

U.S. cryptocurrency opinion leader Anthony Pompliano is rumored to be the CEO of ProCapBTC, and as soon as next week, it will be announced that ProCapBTC will merge with blank check company Columbus Circle Capital 1 to raise $750 million for ProCapBTC, all of which will be used to buy bitcoin. (Synopsis: The Polkadot community is divided: buy bitcoin and sell 500,000 DOTs, diversification or cutting meat at a low point? (Background added: Caught up in BTC stealth trader conspiracy theory? Unveiling Tether's Bitcoin Strategy Panorama) According to the Financial Times, US cryptocurrency opinion leader Anthony Pompliano is rumored to be the CEO of ProCapBTC, and as soon as next week, it will be announced that ProCapBTC will merge with blank check company Columbus Circle Capital 1 to raise $750 million for ProCapBTC and use it all to buy Bitcoin. The final terms are still being negotiated. Funding structure at a glance According to sources, ProCapBTC intends to complete the fundraising through $500 million in equity and $250 million in convertible bonds; Columbus Circle Capital 1 raised $250 million in its IPO at the end of May, backed by investment bank Cohen & Company. Pompliano will become CEO of ProCapBTC, and he plans to follow the enterprise-grade bitcoin reserve model of Michael Saylor, CEO of MicroStrategy Strategy, and convert all funds into bitcoin for long-term holding. Pompliano has worked as an advisor on multiple SPAC transactions and is familiar with the process. He said publicly: "I love Bitcoin. I firmly believe that it is digital gold. I own a lot of bitcoin, and Trump also owns a lot." If all $750 million is in place, ProCapBTC can buy about 7,100 BTC at a time, based on Coingecko's latest Bitcoin quote of about $105,694. Observers believe that the transaction, if realized, will reinforce Bitcoin's position in mainstream asset allocation and attract more legal entities to copy the model. It is worth watching the market to watch when the merger agreement will be finalized and the SEC's regulatory attitude towards setting up SPACs specifically for buying coins. If the supervision is not hindered, ProCapBTC is expected to form a tripod with MicroStrategy and Metaplanet after its success, adding a new fire to the institutional-level hoarding tide in 2025. Related reports Pakistan to build a "two million 2GW bitcoin mining farm" at the end of the year, can open a financial livelihood? Japanese game giant Gumi buys 1 billion yen bitcoin, the next step is to push a crypto fund specializing in institutions Legendary investor Paul Tudor Jones: Buy bitcoin, gold and stocks to fight the dollar's 10% decline in the next 1 year "Institutional hoarding tide" Crypto KOL Anthony Pompliano will become the CEO of ProCapBTC, planning to raise $750 million All in BTC" This article was first published in BlockTempo The most influential blockchain news media.