2025-07-31 21:15:35

To investors,

There are a few different ways you can measure the results of an investment. You can use Internal Rate of Return (IRR), Return on Investment (ROI), Compound Annual Growth Rate (CAGR), or Time-Weighted and Money-Weighted Returns (TWR/MWR).

Each of these metrics is trying to measure something slightly different, but ultimately the goal is for the calculation to answer the question “is this investment good or bad?”

But there is one problem with these metrics — they all measure the investment return against the US dollar. Why is that a problem? Well, the dollar is being debased at an accelerated rate, so most assets priced in dollars continue to trend higher simply because of the loss of purchasing power.

According to Truflation, the US dollar has lost 28% of its purchasing power since January 2020. That is insane debasement in about half a decade.

So how can you measure the success of an investment while removing the impact of dollar debasement? One way to do it would be to measure the success of an investment against a finite asset that can not be debased or printed.

We can call this a “Bitcoin Rate of Return.”

If we apply the concept to the S&P 500, we get a very interesting story. In dollar terms, the S&P 500 has appreciated approximately 100% since 2020.

But if we measure the S&P 500’s success against bitcoin instead of the US dollar, we can see that the S&P is down 85% since 2020 in bitcoin terms. That is a complete destruction of stock portfolios when measured against a finite asset.

You can see the same phenomenon at play with US housing. The median US home has appreciated by about 50% since 2016 when measured in dollar terms. But the same median home has dropped 99% when priced in bitcoin. The home cost about 664 bitcoin in 2016 and now it cost less than 6 bitcoin. I explain this issue here:

So if you were measuring the appreciation of your home, which is a very large portion of many people’s net worth, then you thought you were getting wealthier in dollar terms, but you were actually getting poorer in terms of a finite asset.

These examples are a big reason why I believe “Bitcoin Rate of Return” will become an important new metric in traditional finance.

In fact, I believe this concept is so important that we have decided to change the ticker symbol for our bitcoin-native financial services company, which will be called ProCap Financial after our proposed public market business combination, to BRR.

Here is what we wrote in a recent press release about the ticker symbol change:

“BRR stands for “Bitcoin Rate of Return,” a concept that ProCap BTC believes will emerge as a defining performance metric in the next era of finance. As traditional currencies face ongoing debasement, ProCap BTC advocates for a shift in perspective to evaluating returns not in nominal U.S. dollars, but in Bitcoin, as one of the world’s most sound and scarce monetary assets.

Upon completion of the proposed Business Combination, the goal of the go-forward public company, ProCap Financial Inc. (“ProCap Financial”), is to outperform Bitcoin by accretively acquiring more Bitcoin to grow ProCap Financial’s Bitcoin-per-share. In addition, ProCap Financial’s long-term ambition is to evolve into a full-spectrum Bitcoin-native financial institution where every dollar raised, deployed, or borrowed ultimately compounds back into more Bitcoin per share through differentiated yield-generating strategies and operating cash flows that will support the Bitcoin network and its ecosystem partners.

Given ProCap Financial’s planned strategic focus on generating a compelling Bitcoin rate of return, the transition to the ticker symbol BRR serves as a clear reflection of its long-term vision and alignment with its core objective.”

You can read the full press release here by clicking here. The ticker symbol change becomes effective today.

I share this information with you because you are going to hear me talking about Bitcoin Rate of Return a lot more in the future. Measuring the success of an investment against the US dollar is easy mode. Anyone can buy assets, wait for the government to debase dollars, and then claim victory. I mean even gold is outperforming the S&P 500 over the last 10 years.

So now the real challenge becomes whether an investor or company can outperform bitcoin. Can someone generate a positive Bitcoin Rate of Return? This makes bitcoin the new hurdle rate. And as I continue to say, if you can’t beat it, you have to buy it.

Hope you all have a great day. I’ll talk to everyone tomorrow.

- Anthony Pompliano

Founder & CEO, Professional Capital Management

Anthony Pompliano Explains Why The Bitcoin Bull Run Is Far From Over

Polina Pompliano and Anthony Pompliano discuss what’s going on with bitcoin, hash-rate hitting all-time highs, tariffs, and why the American economy is still king.

Enjoy!

Podcast Sponsors

1. Figure – Lowest industry interest rates at 9.9% at 50% LTV! Take out a Bitcoin Backed Loan today and buy more Bitcoin. Check out Figure and their Crypto Backed Loans! Figure Lending LLC dba Figure. Equal Opportunity Lender. NMLS 1717824. Terms and conditions apply. Visit figure.com for more information.

2. Bitizenship – Get EU citizenship through Portugal’s Golden Visa, maintaining Bitcoin exposure. Book a free strategy call at bitizenship.com/pomp.

3. Bitwise Asset Management - Crypto specialist asset manager with more than $10 billion client assets and more than 30 crypto solutions across ETFs, index funds, alpha strategies, staking, and more. Learn more at bitwiseinvestments.com

4. Maple Finance - Maple enables BTC holders to earn native BTC yield. Learn more at Maple.Finance!

5. Xapo Bank: Fully licensed bank that integrates traditional finance and Bitcoin. Earn up to 3.9% interest in BTC. Spend globally with a debit card that gives 1% cashback in BTC. Borrow up to $1M instantly with Bitcoin-backed loans.

6. Simple Mining offers a premium white-glove Bitcoin mining service. Want to grow your Bitcoin stack? Visit Simple Mining here.

7. Gemini - Invest as you spend with the Gemini Credit Card®. Issued by WebBank.

8. Core - Earn trustless Bitcoin yield. No bridging. No lending. Just HODLing. Begin Staking Your Bitcoin.

9. BitcoinIRA - Buy, sell, and swap 75+ cryptocurrencies in your retirement account. Pay less taxes. Earn up to $1,000 in rewards.

10. Polkadot - is a scalable, secure, and decentralized blockchain technology aimed at creating Web3. Innovation leader, making it a preferred choice for big names.

You are receiving The Pomp Letter because you either signed up or you attended one of the events that I spoke at. Feel free to unsubscribe if you aren't finding this valuable. Nothing in this email is intended to serve as financial advice. Do your own research.

IMPORTANT LEGAL INFORMATION

ProCap Financial and CCCM intend to file with the U.S. Securities and Exchange Commission (the “SEC”). a Registration Statement on Form S-4 (as may be amended, the “Registration Statement”), which will include a preliminary proxy statement of CCCM and a prospectus (the “Proxy Statement/Prospectus”) in connection with (i) the proposed Business Combination, to be effected subject to and in accordance with the terms of the Business Combination Agreement dated as of June 23, 2025 (as amended on July 28, 2025, and as may be further modified, amended or supplemented from time to time, the “Business Combination Agreement”), by and among ProCap Financial, CCCM, Crius SPAC Merger Sub, Inc., a Delaware corporation, Crius Merger Sub, LLC, a Delaware limited liability company, ProCap BTC, and Inflection Points Inc, d/b/a Professional Capital Management, a Delaware corporation, (ii) a private placement of non-voting preferred units (“ProCap BTC Preferred Units”) of ProCap BTC to certain “qualified institutional buyers” as defined in Rule 144A of the Securities Act of 1933, as amended (the “Securities Act”), or institutional “accredited investors” (as defined in Rule 506 of Regulation D) (such investors, “qualifying institutional investors”) (the “Preferred Equity Investment”) pursuant to preferred equity subscription agreements, and (iii) commitments by qualifying institutional investors to purchase convertible notes (“Convertible Notes”) issuable in connection with the closing of the Proposed Transactions by ProCap Financial (the “Convertible Note Offering” and, together with the Preferred Equity Investment and the Business Combination, the “Proposed Transactions”) pursuant to convertible notes subscription agreements. The definitive proxy statement and other relevant documents will be mailed to shareholders of CCCM as of a record date to be established for voting on the Proposed Transactions and other matters as described in the Proxy Statement/Prospectus. CCCM and/or ProCap Financial will also file other documents regarding the Proposed Transactions with the SEC. This communication does not contain all of the information that should be considered concerning the Proposed Transactions and is not intended to form the basis of any investment decision or any other decision in respect of the Proposed Transactions. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, SHAREHOLDERS OF CCCM AND OTHER INTERESTED PARTIES ARE URGED TO READ, WHEN AVAILABLE, THE PRELIMINARY PROXY STATEMENT/PROSPECTUS, AND AMENDMENTS THERETO, AND THE DEFINITIVE PROXY STATEMENT/PROSPECTUS AND ALL OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC IN CONNECTION WITH CCCM’S SOLICITATION OF PROXIES FOR THE EXTRAORDINARY GENERAL MEETING OF ITS SHAREHOLDERS TO BE HELD TO APPROVE THE PROPOSED TRANSACTIONS AND OTHER MATTERS AS DESCRIBED IN THE PROXY STATEMENT/PROSPECTUS BECAUSE THESE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION ABOUT CCCM, PROCAP BTC, PROCAP FINANCIAL AND THE PROPOSED TRANSACTIONS. Investors and security holders will also be able to obtain copies of the Registration Statement and the Proxy Statement/Prospectus and all other documents filed or that will be filed with the SEC by CCCM and ProCap Financial, without charge, once available, on the SEC’s website at www.sec.gov, or by directing a request to: Columbus Circle Capital Corp I, 3 Columbus Circle, 24th Floor, New York, NY 10019; e-mail: [email protected], or upon written request to ProCap Financial Inc. at 600 Lexington Ave., Floor 2, New York, NY 10022, respectively.

NEITHER THE SEC NOR ANY STATE SECURITIES REGULATORY AGENCY HAS APPROVED OR DISAPPROVED THE PROPOSED TRANSACTIONS DESCRIBED HEREIN, PASSED UPON THE MERITS OR FAIRNESS OF THE PROPOSED TRANSACTIONS OR ANY RELATED TRANSACTIONS OR PASSED UPON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE IN THIS COMMUNICATION. ANY REPRESENTATION TO THE CONTRARY CONSTITUTES A CRIMINAL OFFENSE.

The offer and sale of the Convertible Notes to be issued by ProCap Financial pursuant to the Convertible Note Offering and the offer and sale of the ProCap BTC Preferred Units in the Preferred Equity Investment, in connection with the Proposed Transactions, has not been registered under the Securities Act, and such securities may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act.

Participants in Solicitation

CCCM, ProCap BTC, ProCap Financial and their respective directors, executive officers, certain of their shareholders and other members of management and employees may be deemed under SEC rules to be participants in the solicitation of proxies from CCCM’s shareholders in connection with the Proposed Transactions. A list of the names of such persons, and information regarding their interests in the Proposed Transactions and their ownership of CCCM’s securities are, or will be, contained in CCCM’s filings with the SEC, including the final prospectus for CCCM’s initial public offering filed with the SEC on May 19, 2025 (the “IPO Prospectus”). Additional information regarding the interests of the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of CCCM’s shareholders in connection with the Proposed Transactions, including the names and interests of ProCap BTC’s and ProCap Financial’s respective directors or managers and executive officers, will be set forth in the Registration Statement and Proxy Statement/Prospectus, which is expected to be filed by ProCap Financial and CCCM with the SEC. Investors and security holders may obtain free copies of these documents as described above.

No Offer or Solicitation

This communication and the information contained herein is for informational purposes only and is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transactions and shall not constitute an offer to sell or exchange, or a solicitation of an offer to buy or exchange the securities of CCCM, ProCap BTC or ProCap Financial, or any commodity or instrument or related derivative, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, sale or exchange would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act or an exemption therefrom. Investors should consult with their counsel as to the applicable requirements for a purchaser to avail itself of any exemption under the Securities Act.

Forward-Looking Statements

This communication contains certain forward-looking statements within the meaning of the U.S. federal securities laws with respect to the Proposed Transactions involving ProCap Financial, ProCap BTC, and CCCM, including expectations, hopes, beliefs, intentions, plans, prospects, financial results or strategies regarding ProCap BTC, ProCap Financial, CCCM and the Proposed Transactions, statements regarding the anticipated benefits and timing of the completion of the Proposed Transactions, the assets that may be held by ProCap BTC and ProCap Financial and the value thereof, the price and volatility of bitcoin, bitcoin’s growing prominence as a digital asset and as the foundation of a new financial system, ProCap Financial’s listing on any securities exchange, the macro and political conditions surrounding bitcoin, the planned business strategy including ProCap Financial’s ability to develop a corporate architecture capable of supporting financial products built with and on bitcoin including native lending models, capital market instruments, and future innovations that will replace legacy financial tools with bitcoin-aligned alternatives, plans and use of proceeds, objectives of management for future operations of ProCap Financial, the upside potential and opportunity for investors, ProCap Financial’s plan for value creation and strategic advantages, market size and growth opportunities, regulatory conditions, technological and market trends, future financial condition and performance and expected financial impacts of the Proposed Transactions, the satisfaction of closing conditions to the Proposed Transactions and the level of redemptions of CCCM’s public shareholders, and ProCap Financial’s expectations, intentions, strategies, assumptions or beliefs about future events, results of operations or performance or that do not solely relate to historical or current facts. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “potential,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events or conditions that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this communication, including, but not limited to: the risk that the Proposed Transactions may not be completed in a timely manner or at all, which may adversely affect the price of CCCM’s securities; the risk that the Proposed Transactions may not be completed by CCCM’s business combination deadline; the failure by the parties to satisfy the conditions to the consummation of the Proposed Transactions, including the approval of CCCM’s shareholders; failure to realize the anticipated benefits of the Proposed Transactions; the level of redemptions of the CCCM’s public shareholders which may reduce the public float of, reduce the liquidity of the trading market of, and/or maintain the quotation, listing, or trading of the Class A ordinary shares of CCCM or the shares of common stock, par value $0.001 per share, of ProCap Financial (“Pubco Common Stock”) to be listed in connection with the Proposed Transactions; the insufficiency of the third-party fairness opinion for the board of directors of CCCM in determining whether or not to pursue the Proposed Transactions; the failure of ProCap Financial to obtain or maintain the listing of its securities on any securities exchange after the closing of the Proposed Transactions; risks associated with CCCM, ProCap BTC and ProCap Financial’s ability to consummate the Proposed Transactions timely or at all, including in connection with potential regulatory delays or impediments, changes in bitcoin prices or for other reasons; costs related to the Proposed Transactions and as a result of becoming a public company; changes in business, market, financial, political and regulatory conditions; risks relating to ProCap Financial’s anticipated operations and business, including the highly volatile nature of the price of bitcoin; the risk that ProCap Financial’s stock price will be highly correlated to the price of bitcoin and the price of bitcoin may decrease between the signing of the definitive documents for the Proposed Transactions and the closing of the Proposed Transactions or at any time after the closing of the Proposed Transactions; asset security and risks associated with CCCM, ProCap BTC and ProCap Financial’s ability to consummate the Proposed Transactions timely or at all, including in connection with potential regulatory delays or impediments, changes in bitcoin prices or for other reasons; risks related to increased competition in the industries in which ProCap Financial will operate; risks relating to significant legal, commercial, regulatory and technical uncertainty regarding bitcoin; risks relating to the treatment of crypto assets for U.S. and foreign tax purposes; risks related to the ability of ProCap BTC and ProCap Financial to execute their business plans; the risks that launching and growing ProCap Financial’s bitcoin treasury advisory and services in digital marketing and strategy could be difficult; challenges in implementing ProCap Financial’s business plan due to operational challenges, significant competition and regulation; risks associated with the possibility of ProCap Financial being considered to be a “shell company” by any stock exchange on which ProCap Financial’s common stock will be listed or by the SEC, which may impact ProCap Financial’s ability to list Pubco Common Stock and restrict reliance on certain rules or forms in connection with the offering, sale or resale of securities, which could impact materially the time, cost and ability of ProCap Financial to raise capital after the closing of the Proposed Transactions; the outcome of any potential legal proceedings that may be instituted against ProCap Financial, ProCap BTC, CCCM or others in connection with or following announcement of the Proposed Transactions, and those risk factors discussed in documents that ProCap Financial and/or CCCM filed, or that will be filed, with the SEC, including as will be set forth in the Registration Statement to be filed with the SEC in connection with the Proposed Transactions.

The foregoing list of risk factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the IPO Prospectus, CCCM’s Quarterly Reports on Form 10-Q and CCCM’s Annual Reports on Form 10-K that will be filed by CCCM from time to time, the Registration Statement that will be filed by ProCap Financial and CCCM and the Proxy Statement/Prospectus contained therein, and other documents that have been or will be filed by CCCM and ProCap Financial from time to time with the SEC. These filings do or will identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. There may be additional risks that neither CCCM nor ProCap Financial presently know or that CCCM and ProCap Financial currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements.

Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and each of CCCM, ProCap BTC, and ProCap Financial assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither CCCM, ProCap BTC, nor ProCap Financial gives any assurance that any of CCCM, ProCap BTC or ProCap Financial will achieve their respective expectations. The inclusion of any statement in this communication does not constitute an admission by CCCM, ProCap BTC or ProCap Financial or any other person that the events or circumstances described in such statement are material.

2025-07-30 21:30:31

To investors,

It seemed like everyone was predicting an economic collapse just a few weeks ago. There was talk of recessions, depressions, and empty shelves on every news channel. The academics and economists were relevant for two seconds because they brought out a bunch of misplaced theories on why the new economic policies being implemented were guaranteed to bring financial pain to Americans.

They were all wrong.

The United States economy is experiencing a historic economic boom. We got Q2 GDP numbers this morning and they blew away expectations. Instead of the forecasted 2.4% GDP growth number, the official measurement came in at 3%.

Just an insane outperformance for the economy. The economists were so wrong that you have to wonder how any of them have jobs left after a blunder like this.

So what exactly is driving this economic boom in America? Navy Federal’s Chief Economist Heather Long writes:

“The key drivers were: 1) A massive decline in imports after the April "Liberation Day" tariffs. -35.3% (!) for goods in Q2 2) Consumption up 1.4% (vs. just 0.5% in Q1)

Notable: Business investment declined in Q2, underscoring how nervous firms are to do much hiring or spending in uncertain times.”

And remember this positive economic surprise comes at a time when we are already experiencing a very bullish macro backdrop. Adam Kobeissi explains “the US economy is hot: We have now seen 63 months of US economic expansion, the 7th longest business cycle since 1854….By comparison, the longest period without a recession was between 2008 and 2020, at ~125 months. Since the 1980s, all economic cycle have lasted well above the historical average. Unconventional monetary policies and historically large budget deficits appear to be extending business cycles.”

So this is a great reminder that we are living through different times. The market has structurally been changed by the central bank’s willingness to print money, artificially suppress interest rates, and ultimately debase the currency. That decision is a structural tailwind for the economy and asset prices overall.

And here is the best part — Wall Street financial firms were predicting doom and gloom back in April. Retail investors were too busy ignoring the noise and buying the dip. In hindsight, the retail investors look like geniuses because they participated in one of the most historic market recoveries ever experienced by American investors.

Whether you liked tariffs or not, you must update your mental model. The economic policies are working. We are seeing significant economic growth, no sky-high inflation, and an unemployment rate that refuses to sound any alarm bells.

The big question now is can we continue the bull run for months to come? I believe so. But we are all going to find out together.

Hope you have a great day. I’ll talk to everyone tomorrow.

- Anthony Pompliano

Founder & CEO, Professional Capital Management

eToro CEO Yoni Assia Explains Where Bitcoin Is Going and How His Company Will Dominate In America

Yoni Assia is the Founder & CEO of eToro, the world’s leading social investment network.

In this conversation we talk about why Yoni was buying bitcoin when it was real cheap in 2011, the rise to bitcoin being over 100k in price, why he thinks it’s still early, tokenization, how he thinks about being a public company CEO today, and what to expect moving forward.

Enjoy!

Podcast Sponsors

1. Figure – Lowest industry interest rates at 9.9% at 50% LTV! Take out a Bitcoin Backed Loan today and buy more Bitcoin. Check out Figure and their Crypto Backed Loans! Figure Lending LLC dba Figure. Equal Opportunity Lender. NMLS 1717824. Terms and conditions apply. Visit figure.com for more information.

2. Bitizenship – Get EU citizenship through Portugal’s Golden Visa, maintaining Bitcoin exposure. Book a free strategy call at bitizenship.com/pomp.

3. Bitwise Asset Management - Crypto specialist asset manager with more than $10 billion client assets and more than 30 crypto solutions across ETFs, index funds, alpha strategies, staking, and more. Learn more at bitwiseinvestments.com

4. Maple Finance - Maple enables BTC holders to earn native BTC yield. Learn more at Maple.Finance!

5. Xapo Bank: Fully licensed bank that integrates traditional finance and Bitcoin. Earn up to 3.9% interest in BTC. Spend globally with a debit card that gives 1% cashback in BTC. Borrow up to $1M instantly with Bitcoin-backed loans.

6. Simple Mining offers a premium white-glove Bitcoin mining service. Want to grow your Bitcoin stack? Visit Simple Mining here.

7. Gemini - Invest as you spend with the Gemini Credit Card®. Issued by WebBank.

8. Core - Earn trustless Bitcoin yield. No bridging. No lending. Just HODLing. Begin Staking Your Bitcoin.

9. BitcoinIRA - Buy, sell, and swap 75+ cryptocurrencies in your retirement account. Pay less taxes. Earn up to $1,000 in rewards.

10. Polkadot - is a scalable, secure, and decentralized blockchain technology aimed at creating Web3. Innovation leader, making it a preferred choice for big names.

You are receiving The Pomp Letter because you either signed up or you attended one of the events that I spoke at. Feel free to unsubscribe if you aren't finding this valuable. Nothing in this email is intended to serve as financial advice. Do your own research.

2025-07-29 21:51:29

To investors,

Many economists and market commentators predicted sky-high levels of inflation after the flurry of tariff announcements coming out of Washington DC earlier this year. Fortunately, those predictions have not proven true in the last few months.

Truflation, the leading real-time alternative inflation metric, shows inflation started the year hovering around 3%, fell to approximately 1.2% in April, and now sits near the Fed’s target of 2%.

This means despite all the chaos, inflation has fallen about 33% since the start of the year. Not exactly a small number. This lower inflation level should be a welcomed development for citizens and investors alike. In fact, most people in the economy were bracing for higher inflation because that is all the media would talk about for weeks.

But surprises are not always bad. The Citi Inflation Surprise Index shows the United States has the largest gap between 3-months ago and today. And that gap is working in favor of the everyday American and their families.

The economy is rocking and inflation is nowhere to be found, so many people are ready to celebrate. I would be very careful here though. We are not out of the woods yet.

While the tariffs are not a cause for concern, the big threat looming on the horizon is the massive government spending that is we are witnessing. This has always come from both sides of the aisle. They really don’t have a choice. But EJ Antoni highlights the US government has increased the national debt by approximately $500 billion since they lifted the debt ceiling back at the beginning of July.

The money printer is cranking and the dollar is debasing.

The situation we are in is just plain weird. You have tariff revenue exploding higher, inflation lower than expected, and people like Bill Maher, who thought the tariffs were going to sink the US economy, admitting they were completely wrong about what was going to happen.

This is a great reminder to all of us to never have 100% confidence in your assessment of a situation. You have to think probabilistically. And the odds have always been in the favor of the US economy strengthening if the government was putting pro-America policies in place.

Now all eyes will shift to the Federal Reserve and the FOMC as they begin their 2-day meeting today. The consensus is Jerome Powell will not change the interest rate, but that doesn’t mean we won’t get a surprise cut. And a surprise cut would send stocks, bitcoin, and gold significantly higher.

So whether we get the rate cut or not, every data point is telling us asset prices are going up and to the right. Politicians can’t stop printing money. The Fed eventually has to capitulate. And investors are going to win big as long as they stay long and chill.

Hope you all have a great day. I’ll talk to everyone tomorrow.

- Anthony Pompliano

Founder & CEO, Professional Capital Management

Jordi Visser on Bitcoin Going Higher and US Grid Capacity Issues

Jordi Visser is a macro investor with over 30 years of Wall Street experience. He also writes a Substack called “VisserLabs” and puts out investing YouTube videos.

In this conversation we discuss what is going on with bitcoin, Fed independence, interest rate expectations, Azoria lawsuit against the Fed, PMI, and everything that has happened in the last week.

Enjoy!

Podcast Sponsors

1. Figure – Lowest industry interest rates at 9.9% at 50% LTV! Take out a Bitcoin Backed Loan today and buy more Bitcoin. Check out Figure and their Crypto Backed Loans! Figure Lending LLC dba Figure. Equal Opportunity Lender. NMLS 1717824. Terms and conditions apply. Visit figure.com for more information.

2. Bitizenship – Get EU citizenship through Portugal’s Golden Visa, maintaining Bitcoin exposure. Book a free strategy call at bitizenship.com/pomp.

3. Bitwise Asset Management - Crypto specialist asset manager with more than $10 billion client assets and more than 30 crypto solutions across ETFs, index funds, alpha strategies, staking, and more. Learn more at bitwiseinvestments.com

4. Maple Finance - Maple enables BTC holders to earn native BTC yield. Learn more at Maple.Finance!

5. Xapo Bank: Fully licensed bank that integrates traditional finance and Bitcoin. Earn up to 3.9% interest in BTC. Spend globally with a debit card that gives 1% cashback in BTC. Borrow up to $1M instantly with Bitcoin-backed loans.

6. Simple Mining offers a premium white-glove Bitcoin mining service. Want to grow your Bitcoin stack? Visit Simple Mining here.

7. Gemini - Invest as you spend with the Gemini Credit Card®. Issued by WebBank.

8. Core - Earn trustless Bitcoin yield. No bridging. No lending. Just HODLing. Begin Staking Your Bitcoin.

9. BitcoinIRA - Buy, sell, and swap 75+ cryptocurrencies in your retirement account. Pay less taxes. Earn up to $1,000 in rewards.

10. Polkadot - is a scalable, secure, and decentralized blockchain technology aimed at creating Web3. Innovation leader, making it a preferred choice for big names.

You are receiving The Pomp Letter because you either signed up or you attended one of the events that I spoke at. Feel free to unsubscribe if you aren't finding this valuable. Nothing in this email is intended to serve as financial advice. Do your own research.

2025-07-28 21:19:58

Join us at the Independent Investor Summit in NYC on September 12th!

Markets are breaking records. Public equities are outperforming. And individual investors are driving it all. It’s officially the rise of the retail investor.

On September 12th in NYC, I’m hosting the Independent Investor Summit — a one-day event built exclusively for self-directed investors.

We’re bringing together some of the smartest public market investors I know for a full day of macro insights, market predictions, and one-on-one fireside chats. Speakers include Darius Dale, Jordi Visser, Jeff Park, Chris Camillo, Tom Sosnoff, Jon & Pete Najarian…plus more to be announced.

Pomp Letter subscribers can use code POMPLETTER50 for 50% off GA tickets if you register here by August 8th. See you all there.

Get your discounted tickets today!

To investors,

President Trump and his administration announced a significant trade deal with the European Union yesterday. It is such a big win for America that it is almost unbelievable what the EU agreed to.

In fact, the Financial Times — the publication that would love to hate on anything representing America, capitalism, or Trump — had to publish the following sentence:

“There is no hiding the fact the EU was rolled over by the Trump juggernaut, said one ambassador: ‘Trump worked out exactly where our pain threshold is.’”

Just a brutal reality check for all the experts that predicted foreign countries wouldn’t capitulate to the tariff pressure. Instead, the European Union basically gave America whatever we wanted as part of this deal. Here is a quick breakdown of the highlights:

1. The EU agreed to a 15% across the board tariff

2. The EU agreed to buy hundreds of billions of dollars in US military equipment

3. The EU agreed to make $600 billion in investments in the US

4. The EU agreed to buy $750 billion of US energy

5. The EU agreed to open their markets to US products

I don’t care what you think about Donald Trump. Some people like him, some people despise him. I am merely focused on the financial markets. And this deal is going to send asset prices much, much higher.

Not only is the deal so lopsided that I had to read it multiple times, but a new trade deal with a major trading partner like the EU brings the highly anticipated clarity desired by the market. The more clarity we have, the more confidence investors have to put their capital back into financial assets.

And this clarity is coming at the exact moment that investors were getting complacent. You can see this perfectly in the VIX, which closed below 15 on Friday. That is the lowest VIX reading since February.

Buckle up now though. A major trade deal is the type of catalyst that could send stocks, bitcoin and gold higher. Add in the Fed’s meeting this week and you could have an explosion in asset prices if the Fed was to cut interest rates.

Unfortunately, I don’t think we get the interest rate cut. It would be a welcomed surprise, but I wouldn’t count on it. However, I would continue to count on the US government printing money. They have no choice but to continue debasing the dollar in order to deal with the national debt.

And it is very clear that the expansion of global liquidity has driven the S&P 500 higher over the last six years. Just look at this chart:

So here is the big brain conclusion from this weekend’s news. The EU and any other country entering into trade deals with the United States will have to agree to very large capital investments in America. Where are they going to find that money? They will print it of course. So each trade deal brings higher certainty that global liquidity will continue to expand, which means stocks are going higher.

And if stocks are going higher, you know bitcoin is going to make sure it goes even higher. Bitcoin follows global M2 supply like a glove:

So don’t get confused. We are in a bull market. Money printers are getting turned on. Trade deals are being announced. Asset prices are headed higher. And we will eventually get the interest rate cuts. Boom, bang, bada-bing. Higher, higher, higher.

Pessimists may not like it, but there is nothing they can do about it. Liquid asset prices have a structural tailwind for the next decade or so. And trade deals are merely adding fuel to that fire.

Hope you all have a great start to your week. I’ll talk to everyone tomorrow.

- Anthony Pompliano

Founder & CEO, Professional Capital Management

Jordi Visser on Bitcoin Going Higher and US Grid Capacity Issues

Jordi Visser is a macro investor with over 30 years of Wall Street experience. He also writes a Substack called “VisserLabs” and puts out investing YouTube videos.

In this conversation we discuss what is going on with bitcoin, Fed independence, interest rate expectations, Azoria lawsuit against the Fed, PMI, and everything that has happened in the last week.

Enjoy!

Podcast Sponsors

1. Figure – Lowest industry interest rates at 9.9% at 50% LTV! Take out a Bitcoin Backed Loan today and buy more Bitcoin. Check out Figure and their Crypto Backed Loans! Figure Lending LLC dba Figure. Equal Opportunity Lender. NMLS 1717824. Terms and conditions apply. Visit figure.com for more information.

2. Bitizenship – Get EU citizenship through Portugal’s Golden Visa, maintaining Bitcoin exposure. Book a free strategy call at bitizenship.com/pomp.

3. Bitwise Asset Management - Crypto specialist asset manager with more than $10 billion client assets and more than 30 crypto solutions across ETFs, index funds, alpha strategies, staking, and more. Learn more at bitwiseinvestments.com

4. Maple Finance - Maple enables BTC holders to earn native BTC yield. Learn more at Maple.Finance!

5. Xapo Bank: Fully licensed bank that integrates traditional finance and Bitcoin. Earn up to 3.9% interest in BTC. Spend globally with a debit card that gives 1% cashback in BTC. Borrow up to $1M instantly with Bitcoin-backed loans.

6. Simple Mining offers a premium white-glove Bitcoin mining service. Want to grow your Bitcoin stack? Visit Simple Mining here.

7. Gemini - Invest as you spend with the Gemini Credit Card®. Issued by WebBank.

8. Core - Earn trustless Bitcoin yield. No bridging. No lending. Just HODLing. Begin Staking Your Bitcoin.

9. BitcoinIRA - Buy, sell, and swap 75+ cryptocurrencies in your retirement account. Pay less taxes. Earn up to $1,000 in rewards.

10. Polkadot - is a scalable, secure, and decentralized blockchain technology aimed at creating Web3. Innovation leader, making it a preferred choice for big names.

You are receiving The Pomp Letter because you either signed up or you attended one of the events that I spoke at. Feel free to unsubscribe if you aren't finding this valuable. Nothing in this email is intended to serve as financial advice. Do your own research.

2025-07-26 21:04:56

To investors,

I don’t make a habit of sending this letter on weekends, but I thought this situation warranted the special occasion. Next week the Federal Reserve is scheduled to hold the FOMC meeting and their corresponding press conference. Fed Chairman Jerome Powell will announce the interest rate decision, which will move trillions of dollars in capital around the market.

But the FOMC meeting, which is how the Fed determines the interest rate decision, has historically been conducted in private. Some may even call it a secret meeting.

Azoria’s James Fishback believes the private meeting violates federal law requiring every government organization to conduct their official business in the public purview. So Fishback and his investment firm filed a lawsuit late this past week.

Normally these lawsuits would be dismissed without a hearing, but an Obama-appointed judge has granted an emergency hearing to Azoria on Monday (the day before the FOMC meeting). The judge will hear both sides argue whether the FOMC meeting should be live-streamed or not.

I have no idea what the judge will decide. No one does. But I thought the potential impact on financial markets was big enough to sit down with James Fishback to better understand his argument, along with what he thinks will happen if Azoria prevails in this lawsuit.

You can watch the full interview here:

Monday’s hearing will be very interesting. Hope you all have a good weekend.

- Anthony Pompliano

Founder & CEO, Professional Capital Management

2025-07-24 21:14:08

Join us at the Independent Investor Summit in NYC on September 12th!

Markets are breaking records. Public equities are outperforming. And individual investors are driving it all. It’s officially the rise of the retail investor.

On September 12th in NYC, I’m hosting the Independent Investor Summit — a one-day event built exclusively for self-directed investors.

We’re bringing together some of the smartest public market investors I know for a full day of macro insights, market predictions, and one-on-one fireside chats. Speakers include Darius Dale, Jordi Visser, Jeff Park, Chris Camillo, Tom Sosnoff, Jon & Pete Najarian…plus more to be announced.

Pomp Letter subscribers can use code POMPLETTER50 for 50% off GA tickets if you register here by August 8th. See you all there.

Get your discounted tickets today!

To investors,

The meme is the message. That is a phrase that I have uttered hundreds of times in recent years. We are living through a period of time where memes not only set the public conversation, but they spread like a digital wildfire on social media when they strike a chord.

Take American Eagle as the most recent example. They announced a new ad campaign with Sydney Sweeney, an American actress who became popular in recent years as a modern symbol of American beauty. Whether you find her attractive or not, your opinion doesn’t matter because the market has determined Sweeney is a meme. And remember, memes are the message.

So when American Eagle announced the ad campaign, it wasn’t just any regular ad campaign. It was a campaign that pulled on the nostalgia of a generation — woman in jeans around an American muscle car.

But the genius of this ad campaign is not only the person in the ads or the throwback feeling infused throughout the creative, but rather the simplicity of the meme — Sydney Sweeney has great jeans.

So simple, so powerful.

But you may be wondering why the hell am I talking about a random ad campaign to people in finance? Well, American Eagle’s stock has surged about 22% since yesterday’s close.

And you can see some of the largest finance-related social media accounts posting about the meme and the stock price movement.

So how is this all connected? Our friends at Geiger Capital point out that the self-directed investors online are all over these types of internet-native moments as soon as they happen. Look at what this investor on Reddit posted yesterday:

This is the future of finance. Memes grab and hold attention. Attention turns into capital flows. Capital flows turn into assets on a company’s balance sheet. And assets on a company’s balance sheet can be invested to create more revenue and profit.

We saw companies like GameStop turn the newfound attention into more than $9 billion in assets on their balance sheet. DJT stock has loaded up their balance sheet with billions of dollars as well. Those are just two examples. There are plenty more.

Memes are the message. And if you can create the right meme, it is worth billions of dollars to public companies now.

Hope you all have a great day. I’ll talk to everyone tomorrow.

- Anthony Pompliano

Founder & CEO, Professional Capital Management

Everyone Wants Bitcoin Now

Polina Pompliano and Anthony Pompliano discuss what’s going on with bitcoin, new regulation coming out of Washington DC, the rise of self-directed investors, athletes being paid in bitcoin, and why retail continues to beat institutions to various investment opportunities.

Enjoy!

Podcast Sponsors

1. Figure – Lowest industry interest rates at 9.9% at 50% LTV! Take out a Bitcoin Backed Loan today and buy more Bitcoin. Check out Figure and their Crypto Backed Loans! Figure Lending LLC dba Figure. Equal Opportunity Lender. NMLS 1717824. Terms and conditions apply. Visit figure.com for more information.

2. Bitizenship – Get EU citizenship through Portugal’s Golden Visa, maintaining Bitcoin exposure. Book a free strategy call at bitizenship.com/pomp.

3. Bitwise Asset Management - Crypto specialist asset manager with more than $10 billion client assets and more than 30 crypto solutions across ETFs, index funds, alpha strategies, staking, and more. Learn more at bitwiseinvestments.com

4. Maple Finance - Maple enables BTC holders to earn native BTC yield. Learn more at Maple.Finance!

5. Xapo Bank: Fully licensed bank that integrates traditional finance and Bitcoin. Earn up to 3.9% interest in BTC. Spend globally with a debit card that gives 1% cashback in BTC. Borrow up to $1M instantly with Bitcoin-backed loans.

6. Simple Mining offers a premium white-glove Bitcoin mining service. Want to grow your Bitcoin stack? Visit Simple Mining here.

7. Gemini - Invest as you spend with the Gemini Credit Card®. Issued by WebBank.

8. Core - Earn trustless Bitcoin yield. No bridging. No lending. Just HODLing. Begin Staking Your Bitcoin.

9. BitcoinIRA - Buy, sell, and swap 75+ cryptocurrencies in your retirement account. Pay less taxes. Earn up to $1,000 in rewards.

10. Polkadot - is a scalable, secure, and decentralized blockchain technology aimed at creating Web3. Innovation leader, making it a preferred choice for big names.

You are receiving The Pomp Letter because you either signed up or you attended one of the events that I spoke at. Feel free to unsubscribe if you aren't finding this valuable. Nothing in this email is intended to serve as financial advice. Do your own research.