ProCap Financial Sells 50 BTC to Repurchase More Than 2% of Shares

Anthony Pompliano's Bitcoin treasury company ProCap Financial said it sold about 50 bitcoins and used the proceeds to repurchase more than 2% of its outstanding shares at a discount of about 40% to net asset value (NAV). According to Odaily, the company said cumulative share buybacks since the program began have reached about 10% of its outstanding shares. As of the close on September 2, ProCap Financial held about 5,305 bitcoins and said it will continue evaluating share repurchases when its stock trades at a significant discount to NAV.