Bitcoin known whale Pompliano raised one billion dollars to merge with CCCM, setting a new historical high.

Well-known Bitcoin investor Anthony Pompliano announced a merger with Columbus Circle Capital Corp. (CCCM), with a scale of 1 billion dollars, to establish a new Bitcoin asset company, ProCap Financial, creating a record in Bitcoin financing. This merger is the largest merger financing transaction in Bitcoin history, breaking the highest record of all time.

Who is Pompliano? A soldier, Bitcoin OG, and podcaster.

Anthony Pompliano is a well-known Bitcoin OG, who served in the U.S. Army and entered the Silicon Valley venture capital scene after retiring. He co-founded Morgan Creek Digital, supported Reddit and Lyft in their early years, and has long promoted Bitcoin through his personal media Podcast show "Pomp," which has recorded 50 million downloads. His media presence includes a Podcast, a YouTube channel, and a blog, and he is known for his clear and direct viewpoints and deep understanding of macroeconomics, being widely regarded as an opinion leader in Bitcoin and a representative figure of the coin standard.

ProCap's first round of financing reached 750 million USD, setting the highest record in the industry.

ProCap Financial raised over $750 million in its first round of financing, including $516.5 million in equity and $235 million in convertible bonds, breaking records for companies of similar scale and demonstrating the market's high confidence in its business model. After the transaction, ProCap is expected to hold up to $1 billion in Bitcoin on its balance sheet.

Locking in institutional clients to create a native Bitcoin financial platform

Pompliano stated that Bitcoin is disrupting the traditional financial system. He pointed out that ProCap's goal is to meet the growing demand from mature investors for Bitcoin-native financial services, planning to generate revenue through Bitcoin-centric financial strategies and adopting risk mitigation mechanisms to enhance asset utilization efficiency.

Institutional funds rush into Bitcoin investment opportunities

This transaction attracted participation from heavyweight institutional investors such as Magnetar Capital, Woodline Partners LP, Anson Funds, and Blockchain.com. ProCap stated that it will initiate the Bitcoin purchase process within 15 days after the final agreement is signed and will entrust it to a third party for custody before the transaction is completed. Its convertible notes are designed with a 130% conversion rate, zero interest, a maximum term of 36 months, and allow repayment in cash or Bitcoin pledged at double the rate.

The transaction is expected to be completed by the end of the year, pending SEC regulatory review and shareholder approval.

This merger proposal still needs to be reviewed and approved by the U.S. Securities and Exchange Commission (SEC) and must also be approved by CCCM shareholders under the completion conditions. Both parties expect to complete all transaction processes by the end of 2025 and to undergo regulatory review through the S-4 registration statement.

CCCM: Pompliano is the best candidate to drive industry transformation.

Gary Quin, the CEO of Columbus Circle Capital Corp., stated that Pompliano and ProCap are ideal partners for driving transformation in the Bitcoin industry. He highly appreciates Pompliano's extensive experience and visionary insight in the Bitcoin space, believing that this will be an important force in accelerating the industry's growth.

Pompliano predicts the bull market will come true

Pompliano has long argued that Bitcoin is the best value-saving asset. As early as September 2023, he made a bullish prediction about Bitcoin, forecasting that institutional investment and potential ETF approvals would drive the price of Bitcoin to soar. Recent market developments have also confirmed his insights.

This article reports that Bitcoin famous whale Pompliano has raised one billion dollars to merge with CCCM, setting a historic new high, first appearing in Chain News ABMedia.