ProCap Financial Sells 50 Bitcoin to Buy Back Over 2% of Shares

ProCap Financial, the Bitcoin treasury company founded by Anthony Pompliano, said it sold about 50 bitcoin to fund a buyback of more than 2% of its outstanding shares at roughly a 40% discount to net asset value. According to ChainCatcher, the company said cumulative repurchases since the launch of its buyback program now equal about 10% of outstanding shares. The company said it still held about 5,305 bitcoin at the close and will continue evaluating share repurchases when its stock trades at a significant discount to NAV.