ProCap Financial, a Bitcoin-native financial services company led by entrepreneur Anthony Pompliano, has announced its plan to go public through a merger with the Nasdaq-listed special purpose acquisition company (SPAC) Columbus Circle Capital Corp I in a $1 billion deal. The merger will create a combined entity with up to $1 billion in Bitcoin on its balance sheet. ProCap Financial achieved a record-breaking initial fundraise of $750 million, the largest ever for a public Bitcoin treasury company, backed by investors including Magnetar and Woodline. Following the announcement, ProCap acquired 3,724 Bitcoin valued at approximately $395 million and later added another 1,200 Bitcoin to its holdings. The company's Bitcoin reserves now exceed those of GameStop. This development occurs amid a broader trend of increasing corporate Bitcoin accumulation, with 140 public companies holding over 840,883 Bitcoin, representing about 4% of the total supply. Public companies have purchased 250,000 Bitcoin this year, outpacing the 160,000 Bitcoin mined, signaling a potential supply shock. Additionally, Bitcoin miners and large holders continue to increase their reserves, contributing to a strong accumulation trend as Bitcoin retests the $108,000 price level.