Johann Wilfred
Crypto personality Anthony Pompliano plans to take a Chief Executive position at a company whose sole purpose will be to buy large amounts of BTC, according to a report by the Financial Times. The company will be publicly traded and is expected to raise a total of $750 million.
Pompliano is a prominent crypto influencer with 1.7 million followers on X, who regularly posts about digital assets, market movements, and the effect of key events on the price of cryptocurrency and the broader market.
The terms of the deal on the table list Pompliano as the CEO of ProCapBTC with plans to raise $500 million in equity and $250 million in convertible debt. These funds will be used mainly for ProCapBTC’s bitcoin purchases. ProCapBTC will be rendered functional through a merger with a blank cheque company, called Columbus Capital Circle 1. The deal is supposedly still under discussion.
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On a broader level, the current U.S. administration is pro-crypto, and U.S. President Donald Trump has rolled out a wave of crypto-friendly regulation, prompting investors to shift funds towards the digital asset market.
Alongside increased interest from retail investors, corporate buying is also picking up with companies like MicroStrategy, Metaplanet, BlackRock, and GameStop creating a formal Bitcoin reserve through mass purchases of BTC.
IPO activity among firms heavily invested in crypto is heightened as well, with companies like stablecoin issuer Circle and trading platform eToro making their debut in the past few weeks.
