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Prominent crypto investor Anthony Pompliano is negotiating to establish a major Bitcoin investment vehicle through a $750 million special purpose acquisition company (SPAC) merger, according to a June 13 Financial Times report. The proposed deal would combine Pompliano's ProCapBTC with blank-check firm Columbus Circle Capital 1, backed by NYSE-listed Cohen & Company.
The merger plan involves raising 【$500 million】 in equity and 【$250 million】 in convertible debt. Sources indicate the transaction could be finalized as early as next week, though terms remain under discussion. Pompliano would assume CEO role at the combined entity, which would focus on Bitcoin acquisition and institutional investment products.
——This represents the largest dedicated Bitcoin SPAC since MicroStrategy's corporate treasury strategy—— noted blockchain analyst Mark Johnson. The structure allows traditional investors to gain crypto exposure without direct asset custody challenges.
Cohen & Company's involvement provides regulatory credibility, with the investment bank having processed over 【$1.2 billion】 in crypto-related transactions since 2022. Their Columbus Circle Capital 1 SPAC completed a $250 million IPO in May 2025.
The move follows Pompliano's successful April launch of ProCap Acquisition Corp (NASDAQ: PCAPU), whose shares have gained 【13%】 since debut. Market data shows notable trading volume spikes coinciding with Bitcoin's recent price recovery above $67,000.
Industry observers highlight three key impacts: • Creates new institutional Bitcoin access point • Validates SPACs as crypto investment vehicles • Potentially increases Bitcoin's circulating supply pressure
Notably, the timing aligns with growing pension fund interest in digital assets. ——We're seeing unprecedented demand from retirement portfolios—— confirmed Cohen & Company's digital assets lead during a recent investor call.
As of publication, Pompliano hadn't publicly confirmed the deal. Market analysts suggest announcement timing may coordinate with upcoming Bitcoin ETF option expirations to maximize market impact.