BTC ETF & Treasury Firm Acquires Major Bitcoin Position
June 25, 2025
BTC treasury management firm ProCap has rapidly bolstered its holdings, announcing the acquisition of approximately 3,724 BTC shortly after declaring its intention to become publicly traded via a merger with SPAC Columbus Circle Capital.
Reinforcing Bitcoin Treasury Holdings
ProCap, founded by prominent crypto investor Anthony Pompliano, revealed on Tuesday that it has purchased the Bitcoin allocation for its treasury. At the time of the purchase, this 3,724 BTC position was valued at approximately $395 million, acquired specifically to meet anticipated capital requirements from its upcoming public listing.
The transaction occurred just one day after ProCap announced its $1 billion SPAC combination with Columbus Circle Capital, which would rebrand the entity as ProCap Financial. The average acquisition price for these newly acquired BTC was reported at approximately $103,785 per token.
“We now own ~3.7K BTC for treasury purposes and total cap raise ($50m + $750m), strengthening our treasury ahead of going public,” the firm tweeted.
Digital Gold Strategy & Market Context
ProCap CEO Anthony Pompliano referenced a core thesis in this acquisition, stating: “We believe bitcoin is the new hurdle rate. If you can’t beat it, you have to buy it.”
This strategic purchase reinforces ProCap’s stance on Bitcoin as a primary store of value for corporate treasuries, positioning it similarly to established players in the space.
Recent market data indicates Bitcoin (BTC) was trading around $106,000 at the end of Tuesday, approximately 2.1% higher than 24 hours prior according to CoinGecko.
Firms Increasingly Embrace Bitcoin Treasuries
The timing of ProCap’s purchase coincides with a documented increase in publicly traded companies establishing Bitcoin treasury positions despite the absence of dedicated Bitcoin Spot ETFs in the United States.
Following MicroStrategy founder Michael Saylor’s pioneering pivot toward Bitcoin accumulation, institutions including Semler Scientific and Metaplanet have officially listed BTC on their balance sheets. According to data from bitcointreasuries.com, 245 public companies hold Bitcoin, collectively holding over $88 billion of the asset.
ProCap specifically targets companies looking to allocate corporate cash reserves to digital assets, expanding the reach of this investment strategy beyond Bitcoin to potentially include altcoins as firms replicate MicroStrategy’s approach with different cryptocurrencies.
ProCap estimates its final treasury goal, following the SPAC merger closing, will involve holding approximately $1 billion in Bitcoin assets.
