Pompliano’s ProCap Set to Disrupt Markets: $1B Bitcoin Treasury Goes Public via $750M SPAC Mega-Deal

Wall Street meets the orange coin—again. Anthony Pompliano’s ProCap is vaulting into the public markets with a $750M SPAC deal, but the real headline? A $1B Bitcoin war chest hitting the balance sheet.

The SPAC-tacle of Crypto Finance

Forget blank-check platitudes—this one’s backed by hard digital assets. ProCap’s move mirrors MicroStrategy’s playbook but with a twist: leveraging SPAC mania to institutionalize Bitcoin’s volatility as a feature, not a bug.

The $1B Elephant in the Room

That Bitcoin stash isn’t just collateral—it’s a bet against fiat debasement. While traditional finance still debates ‘digital gold,’ Pompliano’s crew is minting a publicly traded vehicle where BTC is the engine.

Cynical Finance Bonus
: Nothing screams ‘2025’ like a SPAC recycling 2021’s hype to onboard boomers to Bitcoin’s volatility. The more things change…

How Bitcoin, altcoins reacted

At the time of writing, Bitcoin was trading at $105,644. It was up by 4.7% for the day, while the altcoin market cap had grown by 6%.

Fears of rising tensions in the Iran-Israel conflict and the U.S. decision to bomb Iran’s nuclear sites did not dissuade the market much. The S&P 500 gained 0.96%, while crude oil prices tumbled 4.25% on the 23rd of June.

Source: BTC ETF Fund Flows

Bitcoin spot ETF flows have also been positive. BlackRock’s IBIT held 683,472 BTC on the 19th of June, increasing from 659,592 at the beginning of the month.

The steady increase in holdings reflected increased demand from investors.

Source: Santiment

The share of Bitcoin held by addresses with 10-1000 BTC has been trending higher since late March. The increased demand was not reflected among whales (wallets with 1000+ BTC).

Whales tend to MOVE the market, but a decrease in their holdings indicated a distribution phase among the larger market participants. Meanwhile, the fish and shark-sized holders continued to grab more Bitcoin.