what's ProCap Financial?
ProCap Financial is a Bitcoin-native financial services firm led by Anthony Pompliano, focused on accumulating and managing a substantial Bitcoin treasury. Formed through the merger of ProCap BTC and Columbus Circle Capital Corp I, the company raised over $750 million in equity and convertible notes to acquire up to $1 billion in Bitcoin immediately upon funding. It differentiates itself by not just holding Bitcoin but building a platform for Bitcoin-based financial services, positioning Bitcoin as the core asset and "hurdle rate" for investment decisions. The firm has rapidly executed on its strategy, purchasing thousands of Bitcoin shortly after announcement, with holdings exceeding 4,900 BTC. ProCap aims to generate revenue through Bitcoin yield strategies, lending, and other financial products while navigating public markets via SPAC merger, expected to close by late 2025. This model follows and expands on the Bitcoin treasury trend pioneered by companies like MicroStrategy, emphasizing direct BTC exposure for shareholders from day one.
ProCap Financial now holds 5,000 BTC ($460M) and used tax offsets, following a new website launch.
Purchased $135 million of convertible debt for $119 million.
Bought back approximately 2% of outstanding stock.
Acquired 6+ bitcoin through non-dilutive yield generation activities.
Maintains a cash position of $72 million as of February 9, 2026.
Has $100 million in outstanding convertible notes as of February 9, 2026.
Has 83,422,775 outstanding shares as of February 9, 2026.
Holds 5,007 BTC in treasury as of February 9, 2026, valued at $460 million.
New website launches for the project.
CEO announces 100% of equity compensation for CEO and Board of Directors at $BRR will be tied to performance milestones, creating a performance-based compensation structure aligned with retail shareholder returns.
Glazer Capital disclosed a 7.7% stake via SEC filing and pushes for changes to executive compensation.
ProCap Financial appoints two board directors: Bill Koutsouras as Lead Independent Director and Chair of Audit Committee (previously served in same roles at Galaxy Digital board), and Bill Four as board member with traditional finance and bitcoin background.
ProCap BTC appoints Renae Cormier, former CFO of Semler Scientific (the 2nd US public company to adopt bitcoin as treasury reserve), as their CFO ahead of an upcoming deal with the project.
Pompliano's $BRR project has purchased 4,950 Bitcoin as part of a $1 billion target strategy and is launching soon.