ProCap Financial repurchases shares at discount, holds 5,007 BTC

ProCap Financial repurchased 148,241 shares at a 35% discount to NAV and holds 5,007 Bitcoin. The company plans further buybacks while shares trade below asset value.

ProCap Financial, a publicly traded Bitcoin treasury company, has initiated a share buyback program to address the gap between its stock price and net asset value (NAV). On February 20, the firm repurchased 148,241 shares on the open market at about $2.30 per share, totaling roughly $341,000. These shares were acquired at a 35% discount to NAV. Currently, ProCap holds 5,007 Bitcoin valued at approximately $335 million, along with $70–75 million in cash and $100 million in convertible debt. The company’s NAV stands at around $305 million, while its market capitalization remains significantly lower. Management stated they plan to continue aggressive share buybacks as long as the discount persists, describing it as a standard investment practice to acquire assets below intrinsic value. Following the announcement, BRR shares rose 3% to $2.42, slightly outperforming other bitcoin treasury firms.