ProCap Financial, a bitcoin treasury company founded by Anthony Pompliano, has sold approximately 50 bitcoin. The proceeds were used to repurchase over 2% of its outstanding shares at a roughly 40% discount to net asset value (NAV). Since the share buyback program started, the company has repurchased about 10% of its outstanding shares. It still holds around 5,305 bitcoin as of the market close. The company will continue to evaluate share repurchase opportunities when the stock trades at a significant discount to NAV.
ProCap Financial, a bitcoin treasury company under Anthony Pompliano, announced the sale of approximately 50 bitcoin via Businesswire. The proceeds were used to repurchase over 2% of its outstanding shares at a roughly 40% discount to net asset value (NAV).
The company stated that since the launch of its share buyback program, it has repurchased about 10% of its outstanding shares. As of the market close, ProCap Financial still holds approximately 5,305 bitcoin. It will continue to evaluate share repurchase opportunities when the stock price is significantly below NAV.
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