ProCap Financial Sells Approximately 50 Bitcoin to Repurchase Over 2% of Outstanding Shares, Reducing Holdings to Approximately 5,305 Bitcoin

According to BusinessWire, Anthony Pompliano’s bitcoin treasury company, ProCap Financial, announced that it has sold approximately 50 bitcoins, with the proceeds used to repurchase over 2% of its outstanding shares at approximately a 40% discount to net asset value (NAV). ProCap Financial stated that since launching its share repurchase program, cumulative repurchases have accounted for roughly 10% of outstanding shares. As of the market close on September 2, the company still held approximately 5,305 bitcoins and will continue to evaluate opportunities to repurchase shares when the stock trades at a significant discount to NAV.